In "Where Does the Money Go? Your Guided Tour to the Federal Budget Crisis," an irreverent and candid guide to government's sea of red ink and the choices we face, co-authors Scott Bittle and Jean Johnson of Public Agenda explain --in plain English-- exactly what the fat cats in Washington are arguing about.

The looming federal debt crisis will affect your savings, your retirement, your mortgage, your health care, and your children.

Here's essential information that every American citizen needs --and has the right-- to know.

This guide to deciphering Beltway jargon on the budget covers everything from the country's $9 trillion debt to the fact that, for 31 out of the last 35 years, the government has spent more than it has collected in taxes.

You'll also find out why elected leaders from both parties have so far failed to address this issue and what we need to do about it now.

Here's some of what you'll find inside:

• The six points you need to know to understand the federal budget crisis
• What's a billion dollars really worth? And how many Manolo Blahniks would it buy?
• More than a dozen ideas for putting Social Security and Medicare on a solid financial path
• Six glib answers to the country's budget crisis that aren't really getting us anywhere
• The "Where Does the Money Go" Voter Protection Kit -- to help you figure out where the candidates really stand on this issue
• Five signs you're being a lazy citizen and five signs you're part of the problem

What Others Are Saying

The New York Times calls 'Where Does the Money Go? "entertaining and irreverent while serving as an informative primer on a subject that is crucial to the future of all Americans."

U.S. News and World Report recommends Where Does the Money Go? on it's "Bookshelf" feature:

Watch Jean and Scott on C-SPAN's Washington Journal, airing March 3.

An interview with Scott aired on the Feb. 26 edition of the public radio business show, Marketplace.

Listen to Jean and Scott's Feb. 19 appearance on The Leonard Lopate Show on WNYC public radio in New York.

Watch Scott and Jean on Bill Moyers' Journal on PBS, airing Feb. 15 nationwide.

Listen to Jean and Scott on Fresh Air with Terry Gross on National Public Radio, airing Feb. 14.

Listen to Jean and Scott on the national radio show, Culture Shocks with Barry Lind.

Read what Barron's editorial page editor Thomas G. Donlan has to say about Where Does the Money Go?

Read the review of Where Does the Money Go? at Bookviews.com by Alan Caruba.

Listen to Scott and Jean's interview on the "Written Voices" podcast with host Allan Hunkin.

Since We Went to Press

As we point out in the book, the federal budget is a moving target. The details change constantly, even as the big picture stays the same. (Unfortunately). So we're going to flag some of the major developments here. Another good place to keep up to date is the Facing Up to the Nation's Finances site, also run by Public Agenda, which includes a budget blog by Scott Bittle and a news feed.

The latest word:

President Bush will submit the first $3 trillion federal budget in February, expected to include a $400 billion deficit and "significant" cuts to Medicare and Medicaid. (Jan. 31, 2008)

The Congressional Budget Office now estimates the federal government will run a $400 billion deficit in 2009 - and that's not even counting the cost of the Wall Street bailout. The Bush administration is asking for approval to spend up to $700 billion over two years to stabilize the financial markets. That's on top of earlier bailouts for mortgage giants Fannie Mae and Freddie Mac, plus the rescue of insurer AIG. It isn't clear how much this will cost in the end, but the White House is also asking Congress to raise the national debt ceiling, the total amount the government is allowed to borrow, to a staggering $11.3 trillion. (Sept. 22, 2008)