Former Obama Budget Chief Orszag Says Official Economic Projections "Too Optimistic"

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    Aug 08, 2011 1:11 PM GMT
    http://www.zerohedge.com/news/farece-again-complete-former-obama-budget-chief-orszag-says-official-economic-projections-too-o

    And so the comedy circle is complete yet again after none other than former White House budget chief Peter Orszag throws cold water in the face of the White House, the Treasury and everyone else who has so far been so stupid to continue to deflect blame for America's horrendous fiscal situation purely on S&P and its "colossal $2 trillion mistake." Because if the guy who up until a year ago personally came up with the White House's voodoo numbers is telling you they are full of shit (the numbers, not the White House), perhaps it does put the administration's claim that it is all S&P excel spreadsheet skills that are at fault, in a slightly different light.
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    Aug 08, 2011 1:37 PM GMT
    southbeach1500 said
    riddler78 saidhttp://www.zerohedge.com/news/farece-again-complete-former-obama-budget-chief-orszag-says-official-economic-projections-too-o

    And so the comedy circle is complete yet again after none other than former White House budget chief Peter Orszag throws cold water in the face of the White House, the Treasury and everyone else who has so far been so stupid to continue to deflect blame for America's horrendous fiscal situation purely on S&P and its "colossal $2 trillion mistake." Because if the guy who up until a year ago personally came up with the White House's voodoo numbers is telling you they are full of shit (the numbers, not the White House), perhaps it does put the administration's claim that it is all S&P excel spreadsheet skills that are at fault, in a slightly different light.


    It's only a matter of time before the other agencies follow suit and downgrade the USA's credit rating.


    It's incredible/insane that there are those who would suggest that Social Security and other entitlement programs do not need to be reformed and that somehow they are fully funded. The graphs of how quickly the debt will grow is frightening... and will only get worse the longer it is put off.