Post-Orszagismic Tristesse: From A.P.:
Even as leading Democrats offered assurances to the contrary, government experts repeatedly warned that a new long-term care insurance plan could go belly up, saddling taxpayers with another underfunded benefit program, according to emails disclosed by congressional investigators.
What did Peter Orszag know and when did he know it? … Obama budget chief Orszag, remember, boasted of a “belt and suspenders” approach to ensure that Obama’s health plan was “fiscally responsible.” In particular, his admittedly somewhat iffy claims about long-term curve-bending savings were to be “backstopped by hard-headed budget accounting and clear-eyed fiscal discipline.” Apparently the backstops were not quite shovel-ready.
Why do I suspect this isn’t the first of the little health care budget surprises that will tarnish Orszag’s legacy? …