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
Living in the Material World (song) "like a car / Taking me both near and far". Author Ian Inglis regards this as an apt metaphor, since human bodies "are merely the vehicles that carry us on our journeys". Harrison refers to his years as a member of the Beatles. He names his former bandmates John Lennon, Paul McCartney and Ringo Starr in a verse that introduces a humorous aspect into the narrative: Inglis comments on Harrison's pun on the word "Richie", which can refer to the Beatles' financial success from 1963 onwards, in the sense of "riches", and to the improvements in musicianship brought about by