Readings:
The Washington Post page on US Budgets
US News home page on budget issues
US News home page on the balanced budget debate
Chapter 3. Economic Report of the President, 1996. Making Fiscal Policy Choices within and Across Generations Chapter 3 of the 1996 ERP presents an analysis of the fiscal and budget problems faced by the US economy.
Simulations of the Effects of Fiscal Policies from A Macroeconomic Model Macroeconomic Advisers LLC built, maintain and support the Washington University Macroeconometric model of the United States Economy (WUMM). At this site they offer a fairly detailed description of their model and Simulations of the Effects of Fiscal Policy.
Making
Sense of the Federal Budget Impasse What are the fiscal problems
faced by the US economy ? This article by an economist at the Cleveland
Fed addresses this issue in detail.