Choosing the Nation's Fiscal Future

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Table of Contents
Front Matter R1-R22
Summary 1-8
1 The Long-Term Challenge 9-34
2 Framing the Choices 35-48
3 Fiscal Prudence 49-64
4 Choices for a Sustainable Budget 65-74
5 Options for Medicare and Medicaid 75-104
6 Options for Social Security 105-128
7 Options for Defense and Other Domestic Spending 129-142
8 Revenue Options 143-172
9 Multiple Paths to Sustainability 173-186
10 Fiscal Stewardship: A Budget Process for the Long Term 187-208
11 What Should Be Done Now? 209-216
References 217-232
Appendix A: Fiscal Sustainability 233-236
Appendix B: Baseline Assumptions and Estimates 237-246
Appendix C: Social Security Options 247-260
Appendix D: Defense and Other Domestic Spending: Program Options 261-274
Appendix E: Revenue Options and Their Implications 275-298
Appendix F: Constructing Multiple Paths to Sustainability 299-320
Appendix G: International Experience with Long-Term Budgeting 321-328
Appendix H: Biographical Sketches of Committee Members and Staff 329-338

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FIGURE 6-3 Social Security scheduled spending and tax revenue as a percentage of GDP.

FIGURE 6-3 Social Security scheduled spending and tax revenue as a percentage of GDP.

FIGURE 6-4 Cumulative Social Security revenue less spending under current-law tax rates and scheduled benefits.

FIGURE 6-4 Cumulative Social Security revenue less spending under current-law tax rates and scheduled benefits.

NOTE: Present value as of January 1, 2009.

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