Choosing the nation's fiscal future / Committee on the Fiscal Future of the United States, Division of Behavioral and Social Sciences and Education, National Research Council and National Academy of Public Administration.

Errata slip inserted.

Includes bibliographical references (p. 217-231).

The long-term challenge -- Framing the choices -- Fiscal prudence -- Choices for sustainable budget -- Options for Medicare and Medicaid -- Options for Social Security -- Options for defense and other domestic spending -- Revenue options -- Multiple paths to sustainability -- Fiscal stewardship: a budget process for the long term -- What should be done now?

Assesses the options and possibilities for a sustainable federal budget. This comprehensive book considers a range of policy changes that could help put the budget on a sustainable path: reforms to reduce the rate of growth in spending for Medicare and Medicaid; options to reduce the growth rate of Social Security benefits or raise payroll taxes; and changes in many other government spending programs and tax policies. The book also examines how the federal budget process could be revised to be more far sighted and to hold leaders accountable for responsible stewardship of the nation's fiscal future.