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You need a path back to a sustainable budget, and that does require some belt-tightening.
The first thing we need to ask is what a sustainable budget would look like.
What other adjustments is it going to take for us to have a sustainable budget level?
A fair and sustainable budget deal will require politically unpopular choices on programs to cut and taxes to raise.
From my own perspective, the point of these figures is not that we're on a long-term, sustainable budget path.
"My biggest worry is how to effectively overhaul the banks, confirm a sustainable budget, start a new development and investment cycle," she said.
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Sustainable budgeting should aim for balance over the cycle: with surpluses in good times to offset deficits in bad times.
If Mr Christie is actually interested in sustainable budgets for the state of New Jersey, he'll find a way to keep this tunnel project moving.
But in order to reduce the risk of a debt crisis, Congress should at the same time lay out a credible path back to sustainable budgets, and this it is failing to do.
As for the mining companies, they have won a far higher rate of return on the $22m they spent on their six-week campaign against the tax than on any hole they have ever dug in the Pilbara.The Gillard government's priorities are to return the budget to surplus by 2012-13 (the forecast for 2010-11 is a public-sector deficit of 3.6% of GDP) and then establish "sustainable" budgeting.
The center also trains policymakers in an effort to help develop sustainable budgeting practices.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com