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Economist Robert Heilbroner.

Economist Robert Heilbroner (rhymes with "runner"). He'll discuss the current recession, and our long-standing obsession with the deficit. He'll also give some suggestions about how to end the recession, and he'll tell us why sometimes a deficit isn't a bad thing.

18:15
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Other segments from the episode on February 10, 1992

Fresh Air with Terry Gross, February 10, 1992: Interview with Robert Heilbroner; Commentary on infomercials; Interview with Alex Chilton; Review of Jonathan Franzen's novel "Strong Motion."
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16:37

Musician Alex Chilton.

Singer/Songwriter/Guitarist Alex Chilton. He was a teenage rock star in the late 60's as the singer with the group the Box Tops. Their major hits included Cry Like a Baby and The Letter. Chilton went on to found the group Big Star. Their two albums in the early seventies, Number 1 Record and Radio City are highly acclaimed by rock fans and musicians. Chilton has continued a solo career. Last year, Rhino Records released a new compilation CD called, "19 Years: A Collection Of Alex Chilton." (Rebroadcast. Original date May 29, 1991).

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Facing The Fiscal Cliff: Congress' Next Showdown

In December, Congress is poised for another showdown on the deficit and taxes, in what is now being called the fiscal cliff. In his new book Red Ink, David Wessel explains how the federal budget got to the point where it is today -- and where to go from here.

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Debt Struggles As Old As America Itself.

Bitter debates about the national debt date back to the earliest days of the Republic, economist Simon Johnson says. Back then, the nation's failure to borrow was the problem. In White House Burning, Johnson and co-author James Kwack explore the meaning of the national debt and prospects for managing it.

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Linguist Geoff Nunberg says everyone's using the phrase "we're broke" these days to justify cuts in government programs and services. But what does "we're broke" actually mean? The answer, says Nunberg, is tricker than you think.

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