This volume contains the papers, along with the discussant's re- marks, presented at a conference on 'Federal Fiscal Responsibility', held at The Homestead, Hot Springs, Virginia, on 26-27 March 1976. Additionally, we, the editors, have included an introductory essay which sets forth some of our background thoughts that in- formed our organization of the conference and which also de- scribes some of our reactions to the conference. This conference was sponsored by the Liberty Fund, Inc. of Indianapolis, Indiana, which incorporated this conference into its overall program directed toward the...