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
The Financial Lives of the Poets The Financial Lives of the Poets The Financial Lives of the Poets is the fifth novel by the American writer Jess Walter. It is a comedic novel first published in 2009. The novel explores the global financial crisis, through the eyes of a business reporter turned poet. Reception of the novel was generally positive. "The New York Times" was largely positive, calling it successful at "captur[ing] the fiscal panic and frustration" and full of "blistering wisecracks". "The Los Angeles Times" called it "darkly funny, surprisingly tender [and] verse sprinkled", though the review highlighted the characters in the novel as flawed