This year’s federal budget deficit is projected to reach $477 billion. A panel talks about the new numbers from the Congressional Budget Office, why the debt is growing, and the debate over its significance.


  • Alice Rivlin senior fellow, Brookings Institution, vice chair, Board of Governors, Federal Reserve System (1996-99); director, White House Office of Management and Budget (1994-96); and founding director, Congressional Budget Office (1975-83).
  • Michael Mandel chief economist at BusinessWeek magazine and author of the forthcoming book "Rational Exuberance" (Harper Business)

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