The inherited deficits fallacy
Posted on November 4th, 2009 by kbh
Budget Director Peter Orszag spoke at NYU yesterday, a speech titled “Rescue, Recovery, and Reining in the Deficit.”
I wrote a super-long post yesterday, but it was too much. So today I respond to the headline-inducing element of the speech. Tomorrow I will post a longer point-by-point response to the rest of his speech.
Warning: my tone in this post is a smidge more aggressive than usual. Director Orszag’s speech fired me up.
Here is the part of the Director’s speech that got the most attention: