Alan Auerbach Discusses Federal Deficit

-San Francisco Chronicle, November 12, 2010 by Carolyn Lochhead
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/11/12/MNP81GAM81.DTL

“There’s nothing here that comes as a surprise to many groups in Washington and academics who have thought about the size of the budget imbalance,” Auerbach said. “We know how big it is and we know where money is, but to citizens who aren’t so familiar, this will probably come as a shock.”

-The New York Times, November 13, 2010 by David Leonhardt
http://nyti.ms/cuNrXT

The country cannot wait until 2030 to implement most of the changes, notes Alan Auerbach, an economics professor at the University of California at Berkeley. If it did, the interest on the national debt could become crushingly large. Deficit cutting will probably be a regular part of politics for the next couple of decades.