[The U.S. Fiscal Problem: Where We Are, How We Got Here, and Where We're Going]: Comment

It is, of course, possible that different policy changes will cause reductions in spending that are not currently contemplated. Perhaps Alan Auerbach's sobering pessimism about the medium term deficit outlook and his cries of alarm about the impossible financing requirements of our social insurance programs in the longer run will cause politicians to act quickly to reduce future deficits. But this seems