AARP Budget and the Economy Principles

Promote transparency—proper accountability and oversight of government spending requires a transparent budget process negotiated by elected officials.

Provide adequate resources—revenues should be adequate to fund and sustain governmental spending and other public needs.

Ensure sustainability—government officials should consider the medium- and long-term effects of budget policies and sustain any deficits at a manageable level to preserve economic growth and essential programs that serve vulnerable populations. Additional revenue may be necessary to achieve long-term fiscal balance.

Equitably distribute resources and burdens—the benefits of economic prosperity and public programs, and the burden of providing such programs, should be shared equitably across income groups and generations.

Adopt prudent practices—budget processes should use reasonable assumptions, straightforward analyses of impacts, and allow enough flexibility to respond to changing circumstances.