Peter Orszag, President Obama’s former White House budget chief, issued a dire warning to the nation Friday about the inability of Democrats and Republicans to overcome political motivations and act to prevent a fiscal crisis. (more)
The resounding win by the Republicans in November holds the promise of getting some control on spending in Washington. It seems, for the moment, that Congress is focusing on this goal, thanks to its members’ feet being held to the fire by the Tea Party. (more)
Have you read Amanda Carey’s fantastic story about CINOs, AKA capitalists in name only? If not, here’s a snippet, and you can read the rest later: (more)
The recent announcement that Larry Summers will be departing as head of President Obama’s National Economic Council (NEC) has prompted rampant speculation about what this will mean for future White House economic policy and process direction. (more)
Senior White House adviser David Axelrod on Wednesday denied rumors that he will leave the White House after the midterm elections, despite whispers from those close to the administration that he may be next to leave. (more)
In a break with the White House, Peter Orszag, the former director of the Office of Management and Budget (OMB), recommended Tuesday that Congress extend the expiring Bush tax cuts for two years, then do away with them altogether. (more)
On New York City’s Avenue of the Americas, tourists can find a mathematical landmark that has grown in infamy as it has grown in digits. It is the National Debt Clock, and it has served as a publicly-displayed meter of the federal government’s spending habits for more than a decade. But as economists and politicians debate the merits of recognizing the future outflows of Social Security and Medicare as part of the debt, two different entities have already made the clock obsolete — Fannie Mae and Freddie Mac. (more)
White House budget director Peter Orszag has gone after Rep. Paul Ryan’s “Road Map” plan before, critiquing the Wisconsin Republican’s vision for solving America’s entitlement and debt crisis earlier this year, when releasing President Obama’s budget. (more)
Days from stepping down as director of the Office of Management and Budget, Peter Orszag can now add another feather to his cap: he has inspired someone to write a song in his honor. (more)
The federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011, according to a White House forecast released Friday. (more)
The Democratic co-chair of President Obama’s fiscal commission said Wednesday that the president’s health care bill will do very little to bring down costs, contradicting claims from the White House that their sweeping legislation will dramatically impact runaway entitlement spending. (more)
White House Budget Director Peter Orszag announced Tuesday he’ll step down next month, becoming the first high-profile member of President Obama’s team to leave the administration. (more)
In selling the health care overhaul to Congress, the Obama administration cited a once obscure research group at Dartmouth College to claim that it could not only cut billions in wasteful health care spending but make people healthier by doing so. (more)
In a letter to Office of Management and Budget Director Peter Orszag, Reps. Darrell Issa and Lamar Smith urge the OMB to enforce a Second Court of Appeals ruling handed down earlier this week that declared an emergency stay on the funding of ACORN. Specifically, the letter requests that Orszag rescind a March 16 directive that allowed federal agencies dole out federal funds to ACRORN. Orszag handed down the directive based on a March 10 ruling after the Eastern District Court of New York ruled that “various congressional spending prohibitions relating to ACORN were unconstitutional bills of attainder.” (more)
April 22 (Bloomberg) — White House Budget Director Peter Orszag was poised to become the first member of Barack Obama’s Cabinet to leave, as early as this summer. Then came an appeal from the president insisting that he reconsider. (more)
The United States in 2020 will owe to creditors almost as much as it produces as an economy, and interest on the national debt will grow to almost $1 trillion, according to an analysis of President Obama’s budget released Friday afternoon by the Congressional Budget Office. (more)
We’re referring to Diet Coke, of course. What did you think we were talking about? Mike Allen of the Politico interviewed White House Budget Director Peter Orszag on the health care bill but the interview went in a different direction when Allen brought up an addiction that seems to have snared more than one of President Obama’s top advisers. Apparently, Orszag is worried about overdosing: (more)
Over the past few months, the Obama White House has taken a beating over its proposed policies, with its ideas on health care reform and the federal budget deficit arousing the most intense opposition. As public understanding of the Administration’s economic plans has grown, support for these plans has declined. These concerns have been reflected in the President’s steadily declining poll numbers, and sudden electoral shifts in Virginia, New Jersey and Massachusetts have underscored the opposition. (more)
WASHINGTON — President Obama’s budget came in for sharp criticism on Tuesday from both Republican and Democratic lawmakers who said the White House was not doing enough to reduce the deficit in the medium and long term. (more)
