Alan Auerbach Thinks Deficit is Threat to Economic Recovery

National Journal, Dec. 1, 2008 by Alan Auerbach

http://economy.nationaljournal.com/2008/12/is-the-deficit-a-threat-to-a-f.php?rss=1

President-elect Obama faces a very difficult task in his design of fiscal policy, thanks in no small part to the fiscal profligacy of his predecessor. He shouldn’t try to attack the long-term fiscal problem immediately, but he needs to address it soon, in a big way. And it won’t take a line-by-line review of the budget to know where the bodies are buried, with roughly 70 percent of the non-interest federal budget now accounted for by Social Security, Medicare, Medicaid, and Defense.