Fiscal gap Fiscal gap The fiscal gap is a measure of a government's total indebtedness proposed by economists Laurence Kotlikoff and Alan Auerbach, who define it as the difference between the present value of all of government's projected financial obligations, including future expenditures, including servicing outstanding official federal debt, and the present value of all projected future tax and other receipts, including income accruing from the government's current ownership of financial assets. According to Kotlikoff and Auerbach, the "fiscal gap" accounting method can be used to calculate the percentage of necessary tax increases or spending reductions needed to close the fiscal gap
A Word to the People A Word to the People "A Word to the People" (Russian: «Слово к народу») was an open letter signed by twelve Soviet public figures. The declaration was published in "Sovetskaya Rossiya" (a newspaper that expressed anti-perestroika views) on 23 July 1991. The signers included writers Yuri Bondarev, Valentin Rasputin and Alexander Prokhanov, singer Lyudmila Zykina, war generals Valentin Varennikov and Boris Gromov, sculptor Vyacheslav Klykov, scientist and politicians Gennady Zyuganov, Vasily Starodubtsev, and . The authors of the writing appealed to the citizens of the country, severely criticizing the policies of Mikhail Gorbachev and Boris Yeltsin, and they pleaded to