http://www.tnr.com/article/politics/magazine/94940/peter-orszag-democracy?page=0,0&passthru=MGU3YjMxNDdlN2UyMjM2MTNhZGZjNDE2MjE2NjE2Nj
Too Much of a Good Thing
Why we need less democracy.
Peter Orszag
The New Republic
Too Much of a Good Thing
September 14, 2011 | 9:46 pm
Showing posts with label Peter Orzag. Show all posts
Showing posts with label Peter Orzag. Show all posts
September 27, 2011
July 28, 2010
Orzag's Budget Fantasies Exposed
[From article]
"In the federal budget process, the baseline scenario is typically based on current law. But the Obama administration has argued that it should be able to work from “current policy.” That way, they can stuff all sorts of expensive future changes into the baseline.Those policies were all explicitly created to be temporary. But by quietly assuming they’ll continue on, the administration avoids accounting for $216 billion.Since 2007, Democrats in Congress have violated PAYGO requirements to the tune of nearly $1 trillion.'
[. . .]
Under Orszag’s watch, budget gimmicks became a way of life for the Obama White House. Both he and Obama may want to pretend their budget numbers tell the truth, but at this point, it’s tough to see their constant fiscal fakery as anything other than a long exercise in make believe."http://www.nypost.com/p/news/opinion/opedcolumnists/legacy_of_budget_trickery_8ct6pTyZoTHgKNhwerJdCM
A legacy of budget trickery
"In the federal budget process, the baseline scenario is typically based on current law. But the Obama administration has argued that it should be able to work from “current policy.” That way, they can stuff all sorts of expensive future changes into the baseline.Those policies were all explicitly created to be temporary. But by quietly assuming they’ll continue on, the administration avoids accounting for $216 billion.Since 2007, Democrats in Congress have violated PAYGO requirements to the tune of nearly $1 trillion.'
[. . .]
Under Orszag’s watch, budget gimmicks became a way of life for the Obama White House. Both he and Obama may want to pretend their budget numbers tell the truth, but at this point, it’s tough to see their constant fiscal fakery as anything other than a long exercise in make believe."http://www.nypost.com/p/news/opinion/opedcolumnists/legacy_of_budget_trickery_8ct6pTyZoTHgKNhwerJdCM
A legacy of budget trickery
Peter Orszag's sleight of hand
Last Updated: 5:08 AM, July 25, 2010
Posted: 12:31 AM, July 25, 2010
July 12, 2010
Orzag Bright But Clueless
[From article]
"Orszag, who co-authored a paper titled "Implications of the New Fannie Mae and Freddie Mac Risk-Based Capital Standard" with Nobel Prize-winning economist Joseph Stiglitz in 2002, wrote that "on the basis of historical experience, the risk to the government from a potential default on GSE debt is effectively zero."
http://www.nypost.com/p/news/business/obama_change_economic_team_lll7kzxcPALL7Nnzjq6CQP
Obama: Change economic team
"Orszag, who co-authored a paper titled "Implications of the New Fannie Mae and Freddie Mac Risk-Based Capital Standard" with Nobel Prize-winning economist Joseph Stiglitz in 2002, wrote that "on the basis of historical experience, the risk to the government from a potential default on GSE debt is effectively zero."
http://www.nypost.com/p/news/business/obama_change_economic_team_lll7kzxcPALL7Nnzjq6CQP
Obama: Change economic team
Last Updated: 5:09 AM, July 11, 2010
Posted: 12:37 AM, July 11, 2010
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