Given the flexible exchange rate regime, fiscal policy should be used to influence overall national saving, which is still lower than it has been for most of the postwar period for the United States. I personally would argue for a rise in national saving, especially in view of the likely increase in future government entitlement spending.
But I would not argue for any of the recently suggested changes in budget procedures that are alleged to help in this process. On the monetary side, authorities should try to stabilize the economy without anticipating help from fiscal policy.