Our nation faces a large — and growing — long-term fiscal imbalance driven by an aging population, which will dramatically increase health care and retirement costs. And while it is just one of many challenges, it is central to a question of whether the nation’s government will adapt new approaches to the management of government itself.

“The government is on an unstable path,” says the recently released Federal Government’s Financial Health. This report, prepared by the U.S. Department of the Treasury and Office of Management and Budget (with the assistance of the Government Accountability Office), puts the challenge in stark terms: Keep reading →