White House budget director Peter Orszag admits that a $9 trillion dollar deficit, a national debt 3/4 the size of the United States economy, and a 10 percent unemployment rate are “higher than desirable.”
The scrupulously fair and balanced AP article also features this line:
For now, while the country tries to come out of a recession, neither spending cuts nor broad tax increases would be prudent deficit-fighting measures.
Really, now, would somebody please explain to me how spending cuts wouldn’t be a deficit-fighting measure? But Orszag really steps into Bizarro World with this gem:
“I know there are going to be some who say that this report proves that we can’t afford health reform,” he said. “I think that has it backwards.”
Denial ain’t just a river in Egypt, Pete.
UPDATE: Hot Air dismantles Peter Orszag’s economic know how.