The United States is currently experiencing “the worst economic episode since the Great Depression,” according to Joe Minarik, senior vice president of the Committee for Economic Development. In this audio lecture, Minarik talks about the macroeconomic perspective on the U.S. budget deficit and its impact on the US economy. He outlines how the budget situation has deteriorated to its current point, how attempts to stimulate the economy have increased our debt, and what it will take to change the situation. The event, “Demystifying DC: Is America Ungovernable?” was organized by the Public Management Initiative (PMI) at the Stanford Graduate School of Business. Sponsored by the Center for Social Innovation’s Public Management Program, PMI students select one topic to explore in detail throughout the academic year and engage the school community in discussion and debate.