Generational Accounting: A Meaningful Way to Evaluate Fiscal Policy
介绍代际核算技术，通过估算当前政策对不同代际的财政负担，揭示美国财政政策不可持续，未来代际将承担更高负担。
This paper illustrates the technique of generational accounting, a new way to evaluate fiscal policy that overcomes the inherent ambiguities of traditional deficit accounting. The authors illustrate why there is no ‘correct’ measure of the deficit and how generational accounting--estimating the fiscal burdens current policy places on different generations--provides a clearer picture of the intergenerational and macroeconomic effects of fiscal policy than any measure of the deficit. Their calculations suggest that, despite recent changes, U.S. fiscal policy is unsustainable in that it will ultimately require future generations to bear a much higher burden than those currently alive.