Orszag Sees Turbulent Times Ahead
Posted on Jan 21, 2011
So, the former head honcho of Obama’s Office of Management and Budget, Peter Orszag, is now sitting in a very plush position over at Citigroup, from where he gave his latest economic prognostications in Thursday’s Financial Times, declaring that “America must brace itself for turbulence.” Here are some other unsurprising remarks he made in the pink paper. —KA
Peter Orszag in the Financial Times:
If policymakers will not act before we have a fiscal crisis at the federal level, a fiscal crisis we will ultimately have. Until then we will see a microcosm of this broader problem arise during debate about increasing the federal debt limit, later this spring. This will be contentious. We may have to experience some temporary market turbulence before it is resolved.
Wikimedia Commons / Office of Management and Budget
Former Obama economic aide Peter Orszag with the president in 2009.