Budget Priorities of the Nation

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Abstract
Changes in the federal budget over the last several decades have raised current consumption at the expense of the investment needed for stronger economic growth. These changes have occurred in the budget's fiscal policy, which has reduced national saving and private investment; in its expenditure policy, which has emphasized short-term benefits rather than public investments; and in its transfer policy, which has not adequately addressed the increasing child poverty that threatens the productivity of our future labor force.

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