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
John Bull's Adventures in the Fiscal Wonderland John Bull's Adventures in the Fiscal Wonderland John Bull's Adventures in the Fiscal Wonderland is a novel by Charles Geake and Francis Carruthers Gould, written in 1904 and published by Methuen & Co. of London. It is a political parody of Lewis Carroll's two books, "Alice's Adventures in Wonderland" and "Through the Looking-Glass". The book features 48 drawings after the originals by John Tenniel which were drawn by Francis Carruthers Gould. It is critical of the economic politics of the day, which John Bull tries to make sense of. A number of notable British politicians are identified in the book.