The Perils of 'Generational Accounting'

Generational accounting purports to compare the effects of budget policies on people born in different years, but it suffers from numerous problems of complexity, logic, and validity.  It’s hard to interpret and easily misunderstood, and including it in regular budget reports and cost estimates, as the proposed Intergenerational Financial Obligations Reform (INFORM) Act would require, would be a mistake.

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