Mr. Peterson talked about his book Running On Empty: How The Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It, published by Farrar, Straus and Giroux. Mr. Peterson argued that America is headed towards an economic meltdown because of the large deficit the country runs every year. He asserted that big tax cuts and heavy spending have contributed to the massive debt the country currently has and warned that if measures are not taken soon the economy will suffer dramatically. Following Mr. Peterson’s remarks he joined Robert Rubin and C. Fred Bergsten in a panel discussion. Audience questions were also answered.