  The black hole in our Galactic Center is extremely underluminous for the
amount of hot gas available for accretion. Theoretical understanding of this
fact rests on a likely but not entirely certain assumption that the electrons
in the accreting gas are much cooler than the protons. In this case the hot gas
as a whole is too hot to accrete, and is too tenous to radiate away its
gravitational energy. Here we propose a drastically different picture of the
accretion process in Sgr A* not based on the unchecked two-temperature
assumption. Namely, we argue that there should exist a very cold inactive disk
-- a remnant of a past stronger accretion activity in Sgr A*. Such a disk would
be a very efficient cooling surface for the hot flow. We show that under
certain conditions the cooling due to thermal conduction cannot be balanced by
the viscous heating in the hot flow. Along with the heat, the hot flow loses
its viscosity and thus ability to accrete. It settles (condences) onto the cold
disk slighlty inside of the circularization radius. If the latter is very
large, then the liberated energy, and the luminosity emitted, is orders of
magnitude less than naively expected. We build a simple analytical model for
this flow and calculate the expected spectra that appear to be in a very
reasonble agreement with observations. Strong additional support for the
presence of the inactive disk comes from the recent observations of X-ray
flares in Sgr A*. The properties of these flares are very similar to those
produced by stars passing through a cold disk.
