{"id":16061,"date":"2009-11-12T05:03:08","date_gmt":"2009-11-12T05:03:08","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/orszag_deficit_can_help_but_slows_recovery\/"},"modified":"2009-11-12T05:03:08","modified_gmt":"2009-11-12T05:03:08","slug":"orszag_deficit_can_help_but_slows_recovery","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=16061","title":{"rendered":"Peter Orszag: Deficit Can Help But Slows Recovery"},"content":{"rendered":"<p>White House budget director Peter Orszag has his hands full these days trying to wrangle down a deficit that has ballooned to an estimated $1.4 trillion. Part of that borrowing was necessitated by the recession, while part of it was designed to shorten the economic crisis.<\/p>\n<p>Orszag says the federal deficit needs to be cut to about 3 percent of economic growth in the coming years to reduce the sea of debt. At the same time, the U.S. has to guard against sending the economy into a tailspin by pulling back too soon on stimulus programs.<\/p>\n<p>Striking a balance is &#8220;extraordinarily challenging,&#8221; Orszag tells NPR&#8217;s Steve Inskeep&#8230;.<\/p>\n<p>Orszag makes no apologies for not projecting a balanced budget anytime in the near-term: &#8220;You have to remember the situation that we inherited.&#8221;<\/p>\n<p><a href=\"http:\/\/www.npr.org\/templates\/story\/story.php?storyId=120300287\">Read it all<\/a>.<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House budget director Peter Orszag has his hands full these days trying to wrangle down a deficit that has ballooned to an estimated $1.4 trillion. Part of that borrowing was necessitated by the recession, while part of it was<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=16061\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,670,149,596,669,594,584],"tags":[],"class_list":["post-16061","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-budget","category-economy","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-national-deficit","category-the-september-2008-proposed-henry-paulson-700-billion-bailout-package","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/16061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16061"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/16061\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}