Congress and the Administration must work together to:
Address the debt limit in a timely manner;
Pass annual budgets on time and appropriate funds early enough to avoid disruptions to government operations;
Constrain federal spending by reducing long-term spending growth rather than imposing abrupt and arbitrary reductions in near-term outlays; and
Strengthen Medicare and Social Security by gradually increasing the eligibility age for full benefits, updating the method of computing cost-of-living adjustments, implementing means testing for higher-income recipients and expanding competitive models of care within Medicare.