SEC. 3. CBO ANNUAL REPORT. 
(a) REQUIREMENT.— 
(1) IN GENERAL.—The Congressional Budget 
Office shall produce a fiscal gap and generational 
accounting analysis, which shall be reported as a 
separate section within its annual ‘‘Long-Term 
Budget Outlook’’. 
(2) DEFINITIONS.—In this subsection, the 
terms ‘‘fiscal gap’’ and ‘‘generational account’’ have 
the meanings given such terms in subsection (h) of 
section 202 of the Congressional Budget Act of 
1974 (2 U.S.C. 602), as added by section 2. 
(b) PUBLIC REPORT.—The Director of the Congres-
sional Budget Office shall post the report described in sub-
section (a) on the Congressional Budget Office public 
website. 
SEC. 4. GAO ANNUAL REPORT. 
(a) REQUIREMENT.— 
(1) IN
GENERAL.—The Comptroller General 
shall produce annually a report on fiscal gap and 
generational accounting analysis consistent with the 
assumptions of the Government Accountability Of-
fice with respect to baseline projections of population 
growth, general price inflation (Personal Consump-
tion Expenditures index), and labor-productivity- 
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growth factors including technological change, cap-
ital intensity, and labor efficiency. 
(2) DEFINITIONS.—In this subsection, the 
terms ‘‘fiscal gap’’ and ‘‘generational account’’ have 
the meanings given such terms in subsection (h) of 
section 202 of the Congressional Budget Act of 
1974 (2 U.S.C. 602), as added by section 2. 
(b) PUBLIC REPORT.—The Comptroller General shall 
post the report described in subsection (a) on the General 
Accountability Office public website. 
SEC. 5. THE PRESIDENT’S BUDGET. 
Section 1105 of title 31, United States Code, is 
amended— 
(1) in subsection (a), by adding at the end the 
following: 
‘‘(40) an analysis including— 
‘‘(A) a fiscal gap report and a generational 
account report, including changes in the fiscal 
gap and generational accounts relative to the 
baseline estimates for purposes of each report; 
‘‘(B) Federal deficits as of the end of the 
fiscal year that is 75 years after the budget 
year, under a baseline estimate and an alter-
native scenario estimate; and 
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‘‘(C) outstanding Treasury liabilities as of 
the end of the fiscal year that is 75 years after 
the budget year, under a baseline estimate and 
an alternative scenario estimate.’’; and 
(2) by adding at the end the following: 
‘‘(i)(1) For purposes of subsection (a)(40), the terms 
‘alternative scenario estimate’, ‘baseline estimate’, ‘fiscal 
gap’, 
‘fiscal 
gap 
report’, 
‘generational 
account’, 
‘generational account report’, and ‘Treasury liabilities’ 
have the meanings given such terms in section 202(h) of 
the Congressional Budget Act of 1974 (2 U.S.C. 602(h)). 
‘‘(2) For purposes of subsection (a)(40), the terms 
defined in paragraph (1) shall be calculated using the as-
sumptions of the President of baseline projections of popu-
lation growth, general price inflation (Personal Consump-
tion Expenditures index), and labor-productivity-growth 
factors including technological change, capital intensity, 
and labor efficiency.’’. 
Æ 
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