Red Ink

David Wessel, the Pulitzer-Prize-winning reporter, columnist, and bestselling author of In Fed We Trust, dissects the federal budget: a topic that is fiercely debated today in the halls of Congress and the media, and yet is misunderstood by the American public. Now a New York Timesbestseller. In a sweeping narrative about the people and the politics behind the budget, Wessel looks at the 2011 fiscal year (which ended September 30) to see where all the money was actually spent, and why the budget process has grown wildly out of control. Through the eyes of key people--Jacob Lew, White House director of the Office of Management and Budget; Douglas Elmendorf, director of the Congressional Budget Office; Blackstone founder and former Commerce Secretary Pete Peterson; and more--Wessel gives readers an inside look at the making of our unsustainable budget.

David Wessel is a senior fellow in Economic Studies at Brookings and director of the Hutchins Center on Fiscal and Monetary Policy. Previously, he was the economics editor of The Wall Street Journal where he wrote "The Capital" column, a weekly look at forces shaping living standards around the world. Wessel joined The Wall Street Journal in 1983 after working at the Hartford Courant and the Boston Globe. He is a frequent guest on NPR's Morning Edition and has shared two Pulitzer Prizes. He and his wife live in Washington, D.C.