AURORA HIGGINSON/ Arizona Daily Wildcat Economics professor Gerald J. Swanson was nominated for a Pulitzer Prize for his book "America The Broke." The book was published in three different languages and was on The New York Times best-seller list for 9 1/2 months.

The last time he wrote a book, it spent more than nine months on The New York Times best-seller list and was translated into German and Japanese. That was 1992.

His newest book, published last summer, was recently nominated for the prestigious Pulitzer Prize.

Professor Gerald Swanson is on a roll.

Swanson is a professor of economics in the Eller College of Management and holds the Thomas R. Brown Chair in Economics Education at the college.

Swanson said his new book, "America the Broke," is a critique of the current status of the American economy.

"I think Congress and the president have lost all semblance of fiscal responsibility," he said.

Swanson said the United States is running extremely large deficits on the cusp of the retirement of baby boomers, which will put a massive strain on budgets. He said he realized it was time to write a book to warn people of the long-term consequences of careless government spending.

"The public has to understand the fiscal time bomb of Medicare, Medicaid and Social Security," Swanson said.

He said people must act now if they want these entitlement programs to continue to be available for future generations of Americans.

"I dedicated the book to my children and grandchildren because they will bear the burden of this fiscal irresponsibility," Swanson said.

He said he has traveled all over the world for his work and has concluded that no country can live beyond its means indefinitely.

Swanson said the United States is currently living beyond its means.

"We consume more than we produce," he said.

In the book, Swanson said he pointed out that although the economy has had three years of expansion, it is still running record deficits.

He said it is frustrating because the deficit had been reduced during the 1990s, in part because of the fiscal restraint shown by both Congress and the Clinton Administration.

Swanson said the government actually began running surpluses during that time, but recent events have dramatically changed the American economic landscape.

"September 11th set the country back," he said.

Swanson also said the war in Iraq and Afghanistan, large tax cuts and a recession during President George W. Bush's first term had a negative impact on the economy.

"Bush never vetoed a spending bill of any kind," he said.

Swanson said it is important to remember that we are a country at war, and that he does not know of a president who cut taxes during wartime. Swanson said he believes there is plenty of blame to go around between both Republicans and Democrats, and he is actually a registered Republican.

He said he frequently receives letters from people in both parties who express some of his same concerns about fiscal issues.

"It's not an ideological problem, but a mathematical problem that needs to be solved," Swanson said.

In addition to its national success, Swanson's book has also been well received in the economics department.

"The deficit is regarded as a real problem looming over our heads, and Gerry has done a good job clarifying why it's so serious," said professor Mark Walker, head of the economics department.

Walker said Swanson is one of the best lecturers he has ever known, and his new book is an important call-to-arms for people.

Swanson's students said they are not surprised about the book's success because he is a great professor.

"He seems very intelligent, well rounded and knowledgeable," said Kaleena Shealy, an undeclared sophomore.

Shealy said she is not surprised the book received the nomination because Swanson has had so many experiences that have taken him around the globe, and he brings a broad perspective to economics.

Other students stressed the increasing relevance economics has in their lives.

"He relates it to real-life situations that affect students' lives. We are at a point where we are economically independent, so it matters more to us now," said Kim Kruchowsky, a general biology sophomore.

Kruchowsky said she was not at all surprised about the book's nomination because he is so knowledgeable about the subject matter.

Swanson said some of the solutions he calls for in his book might be painful right now, but long-term results will be positive.

In the book, Swanson advises people to carefully examine their spending habits and to start saving money now.

He also said the government may need to cut certain benefits and raise taxes if the economy is going to experience any kind of recovery.

Swanson said he encourages students to pay close attention to current policies that will affect their futures and urges them to support reforms in the three entitlement programs.

He said he believes there is still time to act responsibly.

"The wolf isn't at the door, but we have termites in the ceiling. If left untreated, the ceiling will come down on our heads in the future," Swanson said.