It is a foregone opportunity that we could have a trillion dollars more of income for the United States if we were producing at capacity rather than falling so far short of it.
Peter Orszag
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Total borrowing has imploded. Private borrowing has collapsed. And, in effect, the Treasury Department is the last borrower left standing.
- Peter Orszag -
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Defense spending as a share of the economy dropped significantly during the early 1990s, and that was one of the things, along with other policy changes, that put us back on the path to a balanced budget.
- Peter Orszag -