An Economy Unaccountable

America's accounting system doesn't balance out and the red is threatening to drown out the black. David M. Walker would know: he used to look over the books.

Walker was comptroller general of the United States and CEO of the Government Accountability Office from 1998 to 2008. In that time he reported on the growing fiscal imbalance the country was facing, but saw little action from our leaders to address the issue. Walker was prominently featured in the acclaimed documentary "I.O.U.S.A."

Now, as president of the Peter G. Peterson Foundation, Walker is taking an active role pushing for the change of what he says is a broken system that is "headed for a cliff."

LISTEN: DAVID M. WALKER

Beliefs and Big Questions by the Numbers

Do people really believe what they believe? The numbers indicate they often don't. Steven Landsburg says that mathematicians and economists can apply impartial models to a lot of the issues that get deep thoughts...and produce clear results.

Landsburg has applied his approach to such philosophical head-scratchers as "does it make sense to believe in God?" Landsburg, who is a professor of economics at the University of Rochester contributes to Slate.com and is the author of THE BIG QUESTIONS.

LISTEN: STEVEN LANDSBURG - THE BIG QUESTIONS

Bubbles and Bad Fixes

Investment "bubbles" make a lot of people rich. When the bubbles burst a lot of people lose money. Most recently, many of the losers didn't even know they were part of an overinflated bubble. Or more accurately, many people did not realize that one bubble was related to so much else.

Economist Craig Thomas thinks that a true recovery to the system of markets in the U.S. will depend more on a natural balance of the system than incentives created by government fixes.

Thomas was Director of Research for Citi Property Investors, Citigroup's private equity real estate arm. Thomas talks with about how the housing market came to be such a mess, and what he sees as proper maintenance of the "econosphere."

LISTEN: CRAIG THOMAS - THE ECONOSPHERE

Old Rules and New Rules for Recovery

With a Wall Street recovery making some feel better about the economy, are jobs soon to follow?

Traditional wisdom might suggest that a boost in production by American companies would ease the swelling of unemployment figures. Yet, although many economists are saying the recession ended in the summer, still others are predicting double-digit unemployment to stick around for awhile. New York times national economics correspondent Peter S. Goodman says that the old rules might not apply to the current situation.

Goodman discusses concerns over the GDP in relation to the federal debt, the concept of a "jobless recovery" and suggests some ways American manufacturing can look for a more sustainable type of growth.

LISTEN: PETER S. GOODMAN - THE END OF EASY MONEY

Cheating on the Free Market

New York Times business journalist and columnist Gretchen Morgenson has written about the influence of the banking and investment industry during the financial crisis and the behind-the-scenes discussions made by major players.

Morgenson talks about "creative destruction," the level of "freedom" in the American free market and a lack of reform for the financial industry.

LISTEN: GRETCHEN MORGENSON - READING THE CAPITALIST'S BIBLE

The Occult and America

Spiritualism and the occult have often found a place to thrive in the United States.

Mitch Horowitz, author of OCCULT AMERICA: The Secret History of How Mysticism Shaped Our Nation, says that this "hidden wisdom" didn't get debunked from American life as much as it just got absorbed into more mainstream ideas.

Horowitz talks about the role the Masons played in the founding of the United States, and how Norman Vincent Peale and other popular self-helpers took from the example of a mail order psychic.

LISTEN: MITCH HOROWITZ - OCCULT AMERICA