U.S. Fiscal Policies and Priorities for Long-Run Sustainability

Martin Mühleisen; Christopher Towe

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U.S. Fiscal Policies and Priorities for Long-Run Sustainability

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Series:: Occasional Papers
Author(s):: Martin Mühleisen, and Christopher Towe
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: January 2004
DOI:: http://dx.doi.org/10.5089/9781589062955.084
ISBN:: 9781589062955
ISSN:: 0251-6365
Page:: 63

This paper presents an overview of recent U.S. fiscal developments and discusses possible implications of the sharp turn around in the government's fiscal position. Against this back ground, it also reviews key policy challenges that will need to be addressed to cope with the mounting pressures on public retirement and health care systems during the next decade. The study draws principally from back ground papers that were prepared for the IMF staff's annual consultation discussions with the U.S.authorities in 2002 and 2003.

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U.S. Fiscal Policies and Priorities for Long-Run Sustainability

Front Matter

I Overview: Returning Deficits and the Need for Fiscal Reform
II Economic Impact of U.S. Budget Policies
III Social Security, Medicare, and U.S. Fiscal Prospects
IV Long-Run U.S. Fiscal Imbalance: An Intergenerational Analysis
V U.S. Energy Policy: Role of Taxation
VI Budget Enforcement Act and Options for Reform
VII Will the State and Local Budget Crisis Hinder Economic Growth?