The first step to addressing the nation’s long-term challenges is to disclose the true size and intergenerational consequences of our country’s fiscal imbalance. The bipartisan INFORM Act would do so by incorporating fiscal gap and generational accounting analysis in the federal budget process. The fiscal gap calculates the present value difference between total future projected government spending and revenue, plus our current debt. Generational accounting calculates the net taxes of each living generation and future generations. http://www.theinformact.org/
The INFORM ACT has been endorsed by 15 Nobel Laureates in Economics and more than 1,000 other economists.