Budget Director Peter Orszag on Daily Show
If you look in the middle section there are videos and there are 2 for Peter Orszag. (I didn't find them on youtube)
Anyways, in Part 2 they are discussing the $1.3 trillion deficit they are inheriting (he likes to hammer that home). But then they are talking about $15 trillion in 10 years and Stewart asks a question I thought half of $1.3 trillon is like $650 billon, not $7 trillon. So if they are "inheriting" a $1.3 trillion deficit, then why are they going to jack it up to $10 trillion or whatever number.
There seem to be a bunch of economists on this board, can anyone explain what is going on? This is really interesting to me, but I just don't get this. I look at it as a business and if it ran like this I'd be in the poor house in 6 months. Its crazy. Seems to me they are going to drive up the deficit to $15 trillion, then cut it in half to $7 trillion, so they are complaining about inheriting a $1.3 trillion deficit, but they will be handing over a $7 trillion deficit. Thats what I am taking away from it, Crazy K or Shooter, you guys got to know what is happening.