And he’s succeeding! After showing himself to be incompetent by being completely and entirely wrong in his projections on the national deficit and GDP retraction, Orszag has taken to his blog to post absolutely moronic commentary.
His solution for an outrageous deficit, climbing national debt, and a GDP in greater retraction than he projected? More government spending!
During an economic downturn, one wants to allow the deficit to increase, so deficit reduction should be focused on the out-years – after the economy has recovered. That said, the out-year deficits hover in the range of 4 percent of GDP, which is higher than desirable. Getting the out-year deficit under control is a top priority of the Administration.
Reportedly, Orszag inexplicably typed that bullshit hackery with a straight face.
We are in the midst of the policy process surrounding the FY 2011 budget, and that process will include proposals to put the nation back on a fiscally sustainable path. In the meantime, we have to stop making these longer-term deficits worse – which is why the Administration supports statutory pay-as-you-go legislation, so that any new tax or entitlement initiatives are fully paid for. (If pay-go rules had been followed over the past eight years, the projected deficit would be $5 trillion lower over the next decade.)
He’s blaming the Bush Administration for a projected deficit his administration has spent the last 7 months ballooning. These jackasses will still be blaming Bush for their own stupidity four years and trillions of dollars from now. Bank on it.
In addition to avoiding making the problem any worse, we need to address the key driver of our long-term deficits: health care costs. The federal government simply cannot be put on a fiscally sustainable path without slowing the rate of health care cost growth in the long run. That is why the Administration is insistent that health care reform not only be deficit neutral over the next ten years, but also incorporate changes that will help reduce the deficit thereafter.
So we have to spend even more money we don’t have in order to lower the deficit. In related news, we need to make more holes in the boat to stop it from sinking.
Go over to Hot Air to see a chart comparing the Bush deficits to the Obama deficits, as projected by the Congressional Budget Office. Bush looks like a fiscally-responsible libertarian compared to the Obama Administration. Deficit for 2008? A little over $400 billion. Deficit for 2009? $1.85 trillion. Deficit for 2010? About $1.3 trillion.
But they’re ready to blame Bush for not following pay-go rules over the past eight years, even as Democrats controlled the budget for about a quarter of the Bush presidency. That’s some serious hackery that requires a suspension of disbelief.


by Stephan Tawney on August 25, 2009