Change… White House Budget Director Orszag Now Says Deficits Are Bad (Video)
Today’s Hope and Change…
White House Budget Director Peter Orszag warned about the serious and unsustainable national deficit today.
The Hill reported:
White House Budget Director Peter Orszag warned Tuesday that large federal deficits will eventually imperil the U.S. economy because they will lead to higher interest rates and more borrowing from overseas.
Orszag, in a speech in New York, said that deficits, expected to add $9 trillion to the current national debt of $12 trillion over the next decade, are “serious and ultimately unsustainable.”
But, that isn’t what he said a few months ago.
White House Budget Director Peter Orszag told Cavuto back on February 26:
“We need a shared sacrifice” and “Deficits are good.”