Author, editor, and noted economist Bergsten (Peterson Institute for International Economics) and three contributors warn that in the absence of long-term fiscal consolidation, the U.S. account deficit will probably climb to several trillion dollars over the next 10 to 20 years. He contends that U.S. budget policy is the only fix for the growing annual deficit and equally alarming increases in net foreign debt. The papers included in this report were written for the initial conference sponsored by the Peter G. Peterson Foundation and held in New York in December 2008. Annotation 2009 Book News, Inc., Portland, OR (booknews.com)
