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Policy Futures
Long-Term Fiscal Challenges

Federal, state, and local governments face long-term fiscal challenges. Policy Futures analyzes the long-run budget situation; identifies policies that enhance economic growth and opportunity as well as reduce deficits; promotes federal and state tax systems that are equitable, efficient, and raise sufficient revenues; helps states improve their fiscal planning; and resists efforts to impose federal and state fiscal straightjackets.


Federal Spending and Revenue Needs Will Grow

Spending and revenues will have to grow significantly as a share of the economy in coming years just to enable the federal government to continue carrying out existing functions that the...