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Peter Orszag: America must brace itself for turbulence

By Alliance Alert

Peter Orszag, Vice Chairman of Global Banking at Citigroup and formerly Obama's Director of the Office of Management and Budget, writing at Financial Times: "If policymakers will not act before we have a fiscal crisis at the federal level, a fiscal crisis we will ultimately have. Until then we will see a microcosm of this broader problem arise dur­ing debate about increasing the federal debt limit, later this spring. This will be contentious. We may have to experience some temporary market turbulence before it is resolved."

Full post as published by Constitutionally Correct on January 21, 2011 (boomark / email).