Alan J. Auerbach, William G. Gale
July 14, 2009
Although this year's record deficit has attracted a lot of attention, the real concern is the unsustainability of the federal budget over the next 10 years and longer. The budget situation presents policy makers with a very delicate balancing act between encouraging economic recovery and establishing fiscal sustainability, according to Alan Auerbach of U.C. Berkeley and William Gale of Brookings.