By Paul Winfree, includes "...Measures of deficit and debt, however, are far from meaningless. The conventions of federal budgeting adopted by the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) require the government’s financial position to reflect the standards of cash accounting. ... Measures of spending, revenues, deficit, and debt provide a snapshot into the government’s current and past fiscal position. Yet, they do not provide a measure of the government’s future financial position..."
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