In a joint report from the National Research Council and the National Academy of Public Administration, its authors, including AEI’s Joseph Antos, describe the United States’ fiscal outlook, asserting that the present budgetary path is unsustainable. If today’s policies, particularly those regarding entitlement programs, are left unchanged, Americans will face either a substantial erosion in their standard of living or an extremely severe crisis. The authors propose a choice of four policy paths that the United States could and should pursue to get itself back on track.