Here Come the Fiscal Scolds Giving a Discredited Solution to a Problem of Their Own Invention

By: Thursday November 8, 2012 7:05 am

Here’s a decent look at the competing advice President Obama may be getting as he approaches the fiscal policy issues. On the one side, Joe Biden: “You guys have probably looked at the internals of the vote more than I have so far,” Biden said, according to a transcript provided by pool reporters. “But from [...]

Obama Campaign “Clarifies” Approach on Social Security

By: Saturday October 6, 2012 8:37 am

After being criticized for emphasizing points of agreement on Social Security during Wednesday night’s debate, President Barack Obama’s re-election campaign delivered an email to supporters clarifying their response, which left a number of key details unanswered and retained a degree of flexibility for the President over his choices for the program. Deputy campaign manager Stephanie [...]

How Political Elites Narrow Economic Choices

By: Monday June 18, 2012 11:05 am

Tyler Cowen, a conservative economist who’s very good when it comes to finding a good restaurant, is further off base in this editorial, where he attributes the lack of expansionary fiscal policy to “broken trust.” Since Mr. Obama took office, 780,000 private sector jobs have been created, while the number of public sector jobs has [...]

Peter Orszag’s Bid to Get Politicians Out of Policy

By: Tuesday September 27, 2011 12:22 pm

Peter Orszag caused a bit of a stir with his call for an enlightened technocracy, and, literally, “less democracy.” I think what you actually need out of government is “more democracy,” if you equate democracy with majority rule and the ability for an elected government to get the agenda on which they ran into law. [...]

Liberal Disappointment: A Question of Bad Poker, Or Bad Policy?

By: Monday December 6, 2010 11:19 am

Greg Sargent tries to explain why there’s so much anger around liberals over the impending tax cut cave. Much of the debate about the left and Obama tends to focus on Obama’s ideological tendencies — on the question of whether he’s too quick to trade away core liberal priorities because he’s at bottom not ideologically [...]

Why the Bowles-Simpson Social Security Recommendations Aren’t Adequate

By: Monday November 15, 2010 9:04 am

Peter Orszag writes about the Bowles-Simpson recommendations on Social Security, and generally finds them amenable. I don’t know why this should come as a surprise – they basically take a similar form as his Diamond-Orszag recommendations, with a mixture of benefit cuts and payroll tax increases to arrive at long-term solvency. Orszag rightly notes that [...]

Orszag Coming for Your Social Security

By: Thursday November 4, 2010 9:01 am

The deficit commission comes out with their recommendations on December 1; I would expect President Obama to embrace them. Stuck deep inside Evan Bayh’s encomium to tepid oatmeal was a tell on this issue. The most important area for spending restraint is entitlement reform. Democrats should offer changes to the system that would save hundreds [...]

Orszag’s Rift With White House Over Expiration of Tax Cuts, Not Short-term Extension on Tax Cuts for the Rich

By: Wednesday September 8, 2010 11:06 am

Greg Sargent thinks that the rift between Peter Orszag and Barack Obama on the Bush tax cuts is overblown: “The point I was trying to make is that we can’t afford the tax cuts over the medium term, and they shouldn’t be made permanent — but the middle class tax cuts should not expire today,” [...]

Whistling Past the Bond Market Graveyard

By: Tuesday September 7, 2010 11:12 am

Democrats have been beaten down as long as they can remember by the ghosts of bond markets past, which prove inevitably to constrain the ability to advance a progressive agenda through any kind of federal spending. However, this time around, the bond market is basically putting the country in an ideal position to spend more, [...]

Orszag on Tax Cuts: Extend It to End It

By: Tuesday September 7, 2010 7:29 am

Peter Orszag has moved from the White House to a contributing columnist position with the New York Times. And in his first effort, he addresses the Bush tax cuts, coming to a conclusion far removed from the standard position at the White House. The President wants to extend all the tax cuts for those making [...]

Jack Lew to Be Nominated As OMB Director

By: Tuesday July 13, 2010 9:10 am

Jack Lew, a former OMB Director in the Clinton Administration and currently a top deputy to Hillary Clinton at the State Department, has been nominated by the President moments ago to replace Peter Orszag as the current OMB Director. Lew served as OMB Director from 1998 to 2001. Here’s President Obama’s statement: “The experience and [...]

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