This book, edited and researched by experts at the International Monetary Fund (IMF), looks at fiscal adjustment plans in advanced economies, comparing the planned or projected reductions in debts and deficits to the actual outcomes. It also looks at whether spending exceeded expectations or...

The United States is standing at a critical juncture in its fiscal outlook. After experiencing a brief period of budget surpluses at the turn of the century, the federal government will run deficits that add about 4 trillion to the national debt over the next decade. Substantial deficits will...

"In this book, nineteen experts examine topics ranging from constitutional reform and debt fatigue to fiscal rules and zero-based budgeting. Together, these contributions inform a multifaceted, nuanced argument for the need to formalize spending restraint and redefine state debt to include...