Orszag resigns in part because nothing is being done to control deficit

Apparently not every one in the Obama administration is happy with the massive increases in deficits produced by Obama.

US deficit key to Orszag departure
By Edward Luce in Washington
Published: June 25 2010 19:29
But the departure of Mr Orszag, who decided to resign partly in frustration over the absence of a tough plan to address America’s mounting national debt, may well come to be seen in retrospect as equally significant. . . .

“Peter Orszag is absolutely right in his emphasis on taking tough fiscal action sooner rather than later before the markets force us to take action. But the politics in Washington is as bad as it gets. You can’t blame that on Obama.”

Most Democratic strategists believe that Mr Obama’s intention will be to delay the tougher longer-term fiscal steps, such as reducing entitlement spending and imposing a value-added tax, which most economists now see as essential, until after his re-election. . . .



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