A New Architecture for the U.S. National Accounts

Abstract

The purpose of this Grand Challenge is to accelerate the development of new economic data for the resolution of policy issues involving long-term growth. Significant examples include public and private provision for retirement income and the outlook for health care expenditures and public programs to cover health care costs. The public programs for retirement income and health care are critical components of the long-term development of the federal budget. Other important examples include broadening the concept of investment to include investment in human capital through health care and education and investment in intangibles, such as research and development.