New Metrics, Mechanisms and Processes: Some Ideas

Provide information on long-term costs of major spending and tax proposals before they are voted on, including showing long-term costs even for proposals that sunset
Establish an OMB annual report on fiscal exposures, including appropriate measures and how to address them
Consider fiscal targets, triggers, sunset provisions and points of order with focus on limiting growth of long-term commitments (e.g., mandatory spending)
Move to accrual budgeting for employee pension, retiree health; disclose "risk assumed" (missing premium) for insurance
Reinstitute budget controls (caps on discretionary spending & PAYGO rules on both sides of the ledger)

Provide information on long-term costs of major spending and tax proposals before they are voted on, including showing long-term costs even for proposals that sunset