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Obama Budget Director Peter Orszag Is Out, Becomes First Economic Adviser To Bail

Tyler Durden's picture




 

The man singlehandedly responsible for the smallest, "biggest inconsistency" in US budgetary history (that whole $6.3 billion in GSE's left off the US balance sheet, for the full post read "Obama's budget has one small, missing piece... For $6.3 trillion"), Peter Orzsag, currently head of Obama' budget office and previously head of the Congressional Budget Office, and also responsible for the most ridiculous budget in US history (what is the most recent 2020 projected deficit: $100 trillion? $100 quadrillion? does anyone even care?) is out. Bloomberg reports: "White House Budget Director Peter Orszag plans to leave President
Barack Obama’s Cabinet in July, before the White House begins preparing
its next budget, administration officials said." This is arguably the biggest slap in the face of the administration's failed budgetary efforts: the rats are now openly jumping ship, knowing full well that the US will soon be ($20 billion in debt) underwater.

Orszag, 41, considered leaving his post as director of the Office of Management and Budget in April and stayed on after an appeal from the president, the officials, who spoke on condition of anonymity, said. Orszag’s decision to leave this summer will accelerate the process of picking a successor.

Orszag’s spokesman declined to comment directly on his plans. “Peter’s focused on his work, not on Washington speculation,” said Kenneth Baer, the budget office’s communications director.

The departure comes as Obama is putting his focus on slicing the federal deficit, forecast to reach a record $1.6 trillion this year. The president appointed a bipartisan panel to recommend ways to cut the shortfall, and its report is due in December.

Upon leaving the administration, Orszag will likely join a think tank, said one of the administration officials.

Yup. Think Tank Sachs.

Here are the potential replacements:

Among the potential replacements under consideration are Laura Tyson, a
former director of the National Economic Council under President Bill
Clinton, and Rob Nabors, who served as OMB deputy director under Orszag
before moving to the White House to work under Chief of Staff Rahm
Emanuel, said one of the officials.

On the other hand, could Peter's departure have been mandatorily "voluntary"?

Earlier this month, Orszag announced a plan to force some federal agencies to reduce their fiscal 2012 budget requests by 5 percent to help cut the deficit.

“As stewards of the American people’s tax dollars, we cannot afford to waste money on programs that do not work, that are outdated or that are duplicative of one another,” he said in a speech on June 8 at the Center for American Progress.

In other words dissent will not be tolerated comes to throwing away tens of billions. The penalty for fiscal prudence is testing the helicopter's eject seat mechanism.

 

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Mon, 06/21/2010 - 21:51 | 425969 trav7777
trav7777's picture

Bail, bitchez

Mon, 06/21/2010 - 21:54 | 425975 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Rats, snitchez!

Mon, 06/21/2010 - 22:42 | 426059 Mad Max
Mad Max's picture

Flee DC!

Mon, 06/21/2010 - 23:12 | 426110 Fred Hayek
Fred Hayek's picture

Gaol, bitches?

Tue, 06/22/2010 - 04:23 | 426357 Bananamerican
Bananamerican's picture

no, "Gold, Goldmans!"

Mon, 06/21/2010 - 23:48 | 426153 New Survivalist
New Survivalist's picture

QE to infinity, bitchez.

Tue, 06/22/2010 - 07:49 | 426437 repete
repete's picture

And Beyond!

Tue, 06/22/2010 - 00:02 | 426168 Muir
Muir's picture

 Stop right where you are! You know the score, pal. If you're not cop, you're little people.

Tue, 06/22/2010 - 01:42 | 426292 dnarby
dnarby's picture

Great sub-reference.

Tue, 06/22/2010 - 00:02 | 426169 Muir
Muir's picture

 Stop right where you are! You know the score, pal. If you're not cop, you're little people.

Tue, 06/22/2010 - 00:57 | 426245 Problem Is
Problem Is's picture

Stop right where you are! You know the score, pal.

If you're a cop... You are little people too...

Cops can't reach the 1%
Only Geithner Class and above are untouchable by the law.... Think Cassano...

Mon, 06/21/2010 - 22:05 | 425971 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Wow....see???  It is happening now!!!  Get ready America!!!  Get your pitchforks ready America!  They stabbed your currentsea in the back, long long ago, and now they are fleeing the carcuss; they ate it all.

Who's next, LawRench?  and then???

Look, it is really simple.  Taxes are not adding up because there is no growth.  As a simple metric use NAFTA + Peak Oil.  Now look at the budget, with Fannie and Freddie (thank you Orzog, you fascist fool!) and know there is no way to raise interest rates due to, yes, the said massive debt.  America has been in a nose dive for years, and we went into a death spiral when they told everybody (they told you!!!) that the economy was doomed in '08.

The people running the country are idiots!  Listen to them speak!!!  You know why they are idiots?  You know how it is obvious?  BECAUSE THEY LACK FORESIGHT!  AND FORESIGHT IS THE SHAMAN'S JOB!  Oh, and they lie.  They lie with every damn word.

Mon, 06/21/2010 - 23:24 | 426130 l1xx3r
l1xx3r's picture

I don't think they are idiots, they are simply looking out for number 1... what else can they care about. If that is the case, they are doing good running away with a lot of money.

Tue, 06/22/2010 - 00:58 | 426247 Assetman
Assetman's picture

Yeah... this is pretty much along the lines of Sheila Bair's and Alan Greenspan's "come to Jesus" moments.

People that know are covering their tracks.  If Orszag is smart, he would be buying a private spread in Paraguay.  A Goldman assignment would be tantamount to suicide.

Mon, 06/21/2010 - 23:31 | 426137 merehuman
merehuman's picture

are these the same folks missing their foreskin?

Mon, 06/21/2010 - 23:32 | 426138 merehuman
merehuman's picture

retarded comment

Tue, 06/22/2010 - 01:43 | 426296 dnarby
dnarby's picture

Yes, you made one earlier.

Tue, 06/22/2010 - 01:12 | 426265 Problem Is
Problem Is's picture

"Oh, and they lie.  They lie with every damn word."

The Dodd Syndrome
They lie because they are busy lining their pockets... every day... every way.

If the Amerikan Sheeple
Vote in the same idiots, same as always in Nov. 2010... Or worse...

Patry R screwed me so I will vote for party D.
Patry D screwed me so I will vote for party R.

Then the Amerikan sheeple get the giant shit sandwich they deserve...

The giant shit sandwich Wall Street, Freddie, Fannie and Obummer are making for them as we speak...

Wed, 06/23/2010 - 01:22 | 428540 Geoff-UK
Geoff-UK's picture

Currentsea?  You're bringing down the IQ of ZH...

Mon, 06/21/2010 - 21:55 | 425978 Cleanclog
Cleanclog's picture

Laura Tyson is a reasonable, experienced and intelligent person.  But no one can fix this mess now.  No one!

Mon, 06/21/2010 - 22:03 | 425993 Mitchman
Mitchman's picture

Look at the boards of directors she sits on!  Talk about thieves.

Mon, 06/21/2010 - 22:33 | 426033 Arius
Arius's picture

"Laura Tyson is a reasonable, experienced and intelligent person.  But no one can fix this mess now.  No one!"

 

not even Laura?  you kidding....well in that case, for the good of the country i might consider it...feel free to pass my name!

 

wait i got a better idea...how about calling old bernie maddoff - i am sure he would like to do some public service

Mon, 06/21/2010 - 22:41 | 426058 TuesdayBen
TuesdayBen's picture

Prison is a better gig than the Obama Administration.

Tue, 06/22/2010 - 01:08 | 426261 Augustus
Augustus's picture

Laura Tyson is an economic idiot with a very attractive smile.

Tue, 06/22/2010 - 01:37 | 426290 Votewithabullet
Votewithabullet's picture

 Tyson was sufferable when she was hot but the last 11 years kicked her ass almost as bad as john McCain's ole lady. Damn hell time is a mother fuck.

Tue, 06/22/2010 - 07:57 | 426443 Pants McPants
Pants McPants's picture

She's mannish.

Mon, 06/21/2010 - 21:56 | 425981 taraxias
taraxias's picture

Orszag in July

Emmanuel in December

What says thou Timmy???

Mon, 06/21/2010 - 21:58 | 425983 Village Idiot
Village Idiot's picture

Timmay!

Mon, 06/21/2010 - 22:22 | 426028 Mr Creosote
Mr Creosote's picture

Can't wait for the cripple fight!

Tue, 06/22/2010 - 00:19 | 426193 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

PAY-PER-VIEW!

What's the 800#? I wanna sign up now.

Mon, 06/21/2010 - 22:50 | 426071 Gary Busey
Gary Busey's picture

+1

Tue, 06/22/2010 - 01:17 | 426273 Problem Is
Problem Is's picture

"What says thou Timmy???"

Timmay G:
"My dad gave your mom a job at the Ford Foundation when she needed to feed your pie hole, Barry."

"I am staying at Treasury so go shoot some hoops... boooooooooy (Foghorn Leghorn style)."

Mon, 06/21/2010 - 21:59 | 425984 Apostate
Apostate's picture

Rahmbo is also leaving.

http://www.telegraph.co.uk/news/worldnews/northamerica/7837686/Rahm-Emanuel-expected-to-quit-White-House.html

Obama is apparently too "idealistic" for him.

President Biden shortly after the November elections. He's just unpopular and buffoonish enough to take the fall for the end.

Someone very stupid in 2012. Palin? Huckabee? Carrot Top?

Or Petraeus in an Abrams?

Mon, 06/21/2010 - 22:10 | 426007 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The rats are done eating, now.

Mon, 06/21/2010 - 22:26 | 426032 Apostate
Apostate's picture

The crumbs are all gone.

Mon, 06/21/2010 - 22:55 | 426081 homersimpson
homersimpson's picture

Rip on Palin all you want, but she isn't dumb enough to piss away $2 trillion on government-based pet projects like the Harvard graduate Barack did. Since when did book smarts > common sense?

Mon, 06/21/2010 - 23:16 | 426120 Apostate
Apostate's picture

Dude. Alaska is one gigantic welfare state.

Tue, 06/22/2010 - 00:47 | 426229 brushfire
brushfire's picture

word. if the rest of america was as resource rich as alaska, we'd be a long way towards solving some big budget problems. palin couldnt even handle being the governor of alaska, let alone the infinitely more fucked up world of federal and international govt policy. obama blew it, no doubt, but palin is not the answer, at least not in the way most people think.

Tue, 06/22/2010 - 04:30 | 426358 Bananamerican
Bananamerican's picture

...but she is as a MILF??

Tue, 06/22/2010 - 06:35 | 426399 The Merchant of...
The Merchant of Venice's picture

Newsflash: The rest of the United States IS resource rich.  The Interior and the EPA just won't let private owners develop it.  Then the National Parks Service is protecting all that land the Rockefellers "donated" to the Feds.

Wed, 06/23/2010 - 01:25 | 428541 Geoff-UK
Geoff-UK's picture

double word...Sarah Palin will bail on conservatives once she's elected.  And her unmarried daughter will marry the best friend of Chelsea Clinton's beau at Goldman Sachs.  Palin already endorsed Meg Whitman, who (now that she won the GOP primary) is backpedalling on immigration in CA so fast she's practically moonwalking. 

Ron Paul is the only one who might could save us, and he can't win.  We R Screwed.

Tue, 06/22/2010 - 01:12 | 426269 Augustus
Augustus's picture

You may have a bit of a point on the source of the benefits.  However, a bigger point is that whatever the resources, are the entire population gets the money.

Suppose everyone in the US got a check from GOM oil development or minerals in New Mexico?  would there be a different evaluation of the developments?

Tue, 06/22/2010 - 01:33 | 426286 Apostate
Apostate's picture

Then you would get bullshit that you have in Iran. If the profits from exploration are socialized, the equipment breaks down, you under-invest in exploration, and so on.

On land, companies DO provide huge checks to lease and buy land from existing inhabitants. The gulf is socialized, so BP just has to bribe the government to get what they want. 

Mon, 06/21/2010 - 23:44 | 426149 Mr Creosote
Mr Creosote's picture

Common things are common except common sense.

Tue, 06/22/2010 - 06:17 | 426391 dogbreath
dogbreath's picture

why isn't it called uncommon sense.  I have asked this question for a long time.

Tue, 06/22/2010 - 00:21 | 426195 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

You're really still discussing this in terms of the Political Pagaent?  The RIGHT-LEFT thingy?

Tue, 06/22/2010 - 00:39 | 426218 tictawk
tictawk's picture

Obama book smart????  NOT!!!  Reading and comprehension are two different things.  He does read the teleprompter well

Tue, 06/22/2010 - 01:05 | 426260 Red Neck Repugnicant
Red Neck Repugnicant's picture

Right on, HomerSimpson!  I completely agree with you.   

Palin for president!

God. Guns. Guts and Trucks (and camaros!) 

 

Tue, 06/22/2010 - 01:46 | 426300 dnarby
dnarby's picture

I have a Camaro.  It's bitchin'.

Tue, 06/22/2010 - 01:55 | 426309 Red Neck Repugnicant
Red Neck Repugnicant's picture

Fuck n' A!

You probably don't have racing strips on yours, though.  I do. They are red.  They were painted by a top-ranked painter in Nashville.  Took him 9 days.  

If Palin gets elected in 2012, I'm gonna offer to drive her around Washington in my '95 Z28 droptop.  She can sit on the back trunk like my prom queen. 

Return America to its rightful owners!

Tue, 06/22/2010 - 09:08 | 426507 Escapeclaws
Escapeclaws's picture

She's too smart. We need someone with a *one* digit IQ.

Tue, 06/22/2010 - 09:22 | 426530 SamuelMaverick
SamuelMaverick's picture

+1. What are the junks for? Sara ???  Wake up, I still cant beleive all the lefties and Palin haters on this site of all sites.  Go to the New York Propoganda Times and push your drivel elsewhere.

Wed, 06/23/2010 - 01:30 | 428545 Geoff-UK
Geoff-UK's picture

Why do all the Palin lovers assume you can only be socialist if you don't like her? 

I was willing to like her despite her association with McCain but she's not been doing any homework since the election--she just repeats platitudes to drooling fans.  She's not a conservative, she's a populist.  And lazy.

After getting your ass handed to you by Katie Couric on national tv (foreign policy=I can see Russia from my house!), you'd think you'd hide in a monastery for 2 years and get smart before you came back on the national scene.

Tue, 06/22/2010 - 00:57 | 426246 Rusty_Shackleford
Rusty_Shackleford's picture

Pauly Shore 2012

Tue, 06/22/2010 - 01:04 | 426256 Apostate
Apostate's picture

Shit, I'll write him in.

Tue, 06/22/2010 - 07:59 | 426445 Pants McPants
Pants McPants's picture

I want you to be wrong but I fear you are right.

 

Good god what's happening?

Tue, 06/22/2010 - 09:10 | 426457 Translational Lift
Translational Lift's picture

I vote for "Petraeus in an Abrams".  I never thought I would ever say this, BUT, the only way out of this shit-heap is to have a Stalinesque style purge of all the Rep & Dem & Ind crap/traitors in DC and elsewhere, eliminate those deemed beyond rehabilitation, send the rest to a camp in their coveted ANWR.

Mon, 06/21/2010 - 21:59 | 425985 Instant Karma
Instant Karma's picture

"the rats are now openly jumping ship, knowing full well that the US will soon be ($20 billion in debt) underwater."

20 billion is pocket money. A typo?

Mon, 06/21/2010 - 23:10 | 426106 perchprism
perchprism's picture

Yes, yes, an irritating typo...twice they screwed up billions with trillions in opening sentences of the post.  Sloppy.

Mon, 06/21/2010 - 23:27 | 426132 l1xx3r
l1xx3r's picture

Either way, the numbers are ridiculous!! How did it get this big? lol

Tue, 06/22/2010 - 00:22 | 426196 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Excellent...

Mon, 06/21/2010 - 21:59 | 425986 williambanzai7
Mon, 06/21/2010 - 22:03 | 425989 bob_dabolina
bob_dabolina's picture

In otherwords...the dollar is fucked and he doesn't wanna be the patsi.

Mon, 06/21/2010 - 23:18 | 426124 drwells
drwells's picture

Probably the same reason Paul O'Neil jumped ship from Tard Boy's Administration. He went to Washington under the grossly mistaken impression that he was there to do some kind of honest job instead of rape, destroy, and steal everything that isn't bolted to the fucking floor. Silly boy.

Hell, I went to college with the impression that I was supposed to get an education there. We all make these mistakes when we're young and naive.

Tue, 06/22/2010 - 01:18 | 426274 RichardENixon
RichardENixon's picture

I'm old and jaded and I seem to be making more mistakes than ever.

Tue, 06/22/2010 - 02:56 | 426338 Rusty Shorts
Tue, 06/22/2010 - 05:07 | 426370 drwells
drwells's picture

Now that brought back the good old days of high school.

Mon, 06/21/2010 - 23:51 | 426157 Hansel
Hansel's picture

U.S. Budget for fiscal 2011: $∞
Signed,
Barrack Obama

Tue, 06/22/2010 - 01:01 | 426252 Rusty_Shackleford
Rusty_Shackleford's picture

HA!

 

The funny thing is that even with that, they'll still need to pass a dozen emergency supplemental appropriations bills to keep the wheels from coming off.

Mon, 06/21/2010 - 22:01 | 425991 Mitchman
Mitchman's picture

Rob Nabors!  Don't they mean JIM Nabors?  He'd take one look at that budget and say Shazam! and everything would be just fine!

Mon, 06/21/2010 - 22:38 | 426055 ColonelCooper
ColonelCooper's picture

Okay, that was kinda funny.

Mon, 06/21/2010 - 22:49 | 426070 Mitchman
Mitchman's picture

Thx.  I can just hear him say it.

Tue, 06/22/2010 - 01:19 | 426275 RichardENixon
RichardENixon's picture

KNOCK IT OFF PYLE!

Mon, 06/21/2010 - 22:07 | 425999 CD
CD's picture

Grammar nazi notes a few typos (Orszag vs. Orzsag, a few faulty billions where trillions should be), but shares the wonderment of whether it's a case of jumping, being pushed, fleeing the sinking vessel, or not having enough stomach to keep pushing the spin...

Mon, 06/21/2010 - 22:09 | 426004 monmick
monmick's picture

"...knowing full well that the US will soon be ($20 billion in debt) underwater."

Good one! You got phat phingers, Tyler?

Tue, 06/22/2010 - 01:47 | 426302 dnarby
dnarby's picture

Your avatar is incomplete.

Tue, 06/22/2010 - 08:20 | 426467 goldfish1
goldfish1's picture

"...knowing full well that the US will soon be ($20 billion in debt) underwater."

 

Hard to keep up. People used to be rich if they were millionaires.

Mon, 06/21/2010 - 22:11 | 426006 Number 156
Number 156's picture

..and he will be hot on the heels of Rham Emanuel. Expect more defections as the economic / political collapse of the Obama administration  and possibly the USA continues to take shape. Who wants to bear the stigma of serving as a cabinet member of one of the biggest FAILS in American history?

Mon, 06/21/2010 - 22:13 | 426015 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The cable holding the apocalypse has appeared to snap.

Mon, 06/21/2010 - 23:09 | 426105 clagr
clagr's picture

I guess you have to decide which side you are on to count it a fail.

"Obama is following the plan of Cloward & Piven, two professors at Columbia University. They outlined a plan to socialize America by overwhelming the system with government spending and entitlement demands."

From that standpoint, he is succeeding wildly beyond anyone's expectations.

Tue, 06/22/2010 - 01:23 | 426277 RichardENixon
RichardENixon's picture

If his goal was to accrue as much power as possible to the Federal Government, especially the Executive Branch, he's been a smashing success. Those who think he's an incompetent boob might want to think about it a little.

Tue, 06/22/2010 - 06:19 | 426392 breezer1
breezer1's picture

the sockpuppet needs to ask permission to change the toilet paper roll.

Tue, 06/22/2010 - 04:36 | 426360 Bananamerican
Bananamerican's picture

"They outlined a plan to socialize America by overwhelming the system with government spending and entitlement demands"

Wait a minute..are we drowning amerika in a bathtub or a vat of linguini?

Tue, 06/22/2010 - 10:37 | 426659 uraniuman
uraniuman's picture

Agree with your premise, but the verdict is not in yet: I would argue the speed at which these thug socialists have been moving has set off all the alarms across the country- there will be a blow back like no one alive has seen in November. Soon we will be following in the footsteps of Europe's austerity program, even while it is too little too late.

Tue, 06/22/2010 - 01:27 | 426281 Problem Is
Problem Is's picture

"...and he will be hot on the heels of Rham Emanuel."

Rham-Baby Chrystal Ball Moment
I can see into Rahm-Baby's future...

He will flee to Israel with his hedge fund millions when it comes out Rahm-Baby and Mossad were up to their eyeballs in the Magnetar CDO frauds...

Rahm-Baby will be waving that stumpy little middle finger...

Still much longer than his cheese dick on the way out the door....

Mon, 06/21/2010 - 22:11 | 426009 packeteerist
packeteerist's picture

It's all part of the AIPAC revolving door. Look to see where he ends up, and which one of their yes-men come in to finish his fine work on destroying America.

Mon, 06/21/2010 - 22:25 | 426031 I need more asshats
I need more asshats's picture

Co-opting, enslaving America. Right on.

Tue, 06/22/2010 - 12:36 | 426919 svendthrift
svendthrift's picture

I have noticed that really only one thing gets a comment "junked".

Wed, 06/23/2010 - 01:36 | 428550 Geoff-UK
Geoff-UK's picture

It's not just the Jews who get sick of some of you at ZH blaming about the Jews for everything.

And not all Jews are socialist, you racist bastards.  My brother's father-in-law is terrified at what's happening in America--and he served in the Marines for 10 years.  So yeah, you asshats get junked. 

Mon, 06/21/2010 - 22:12 | 426013 Bay of Pigs
Bay of Pigs's picture

Rats scurrying about? Yeah, right. Might as well be walking on the Sun....

Mon, 06/21/2010 - 22:13 | 426014 Atomizer
Atomizer's picture

Obama administration is over their head with propaganda. Rats are jumping ship.

Rewind to today. The big Yuan story.

Now lets rewind to March 3, 2009. More lies for the public to feed from.

March 31, 2009Breaking news from China's ZGC Focus economics correspondent Chen Hui

World leaders plan a bombshell declaration - to replace the US dollar with a new global currency, the IMF-backed SDR.

Within days, instead of dollar bills and pound coins, US and British shoppers may be paying for their purchases with SDR notes.

http://www.youtube.com/watch?v=8QVWVX4cFhw

When you lie & cannot remember what you said. Troubled times are ahead.

Tue, 06/22/2010 - 00:33 | 426208 Augustus
Augustus's picture

Obama administration is over their head with propaganda. Rats are jumping ship.

 

The real story is that the previous Rat propaganda is being shown as nonsesne.  The DumpoRats got control and tried to use implement the nonsense.  The effects are killing the economy.  Why work if you can get paid from Obama's stash?

The jumping ship is just evidence that the elected egalitarians do not now want to be associated with the demonstrated nonsense they once promoted.

Mon, 06/21/2010 - 22:17 | 426018 monmick
monmick's picture

How about Andrew Fastow for Budget Director? Desperate times call for desperate measures.

I am sure he could make Orszag blush; and balance the budget in no time...

Mon, 06/21/2010 - 22:47 | 426065 Mitchman
Mitchman's picture

To say nothing of keeping things off the sheet!  LMAO!

Tue, 06/22/2010 - 00:27 | 426200 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

How about Andrew Fastow for Budget Director?

I think his cellmate Bubba might miss him too much.

Tue, 06/22/2010 - 01:34 | 426287 Problem Is
Problem Is's picture

"How about Andrew Fastow for Budget Director?"

How about "Big Ponzi" Bernie Madoff?

"I'm Bernard Madoff. I'm telling you right here."

"You invest with me and there is no deficit."

"In fact I can get you 8% to14% increases in budget surpluses year over year.... Trust me."

Mon, 06/21/2010 - 22:18 | 426020 digalert
digalert's picture

July, that's rather abrupt, and what budget are we talking about? Last I read, there is no budget, they decided to skip it this time around. Or they want to pretend they have a budget when they don't.

 

Mon, 06/21/2010 - 22:48 | 426066 BobWatNorCal
BobWatNorCal's picture

Claims here they got no budget. But it's an opinion piece, so I don't know.
http://www.washingtonexaminer.com/opinion/columns/Obama-is-in-over-his-h...

Tue, 06/22/2010 - 05:04 | 426369 thisandthat
thisandthat's picture

It's the budget, dummy!

No budget, no budget deficit. Problem solved.

Tue, 06/22/2010 - 06:39 | 426402 The Merchant of...
The Merchant of Venice's picture

It's not just OMB.  The Congress has no budget either.  Pelosi skipped it to film "Top Chef".

Mon, 06/21/2010 - 22:18 | 426022 taraxias
taraxias's picture

O/T but I think the BP leak just went parabolic

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/in...

Mon, 06/21/2010 - 22:20 | 426026 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And now Katla?

Mon, 06/21/2010 - 23:12 | 426047 CD
CD's picture

The other sub from the same ship provides a wider angle:

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/incident_response/STAGING/local_assets/html/Skandi_ROV2.html

There may, of course, be plenty of innocuous reasons (they are switching out siphoning ships, the flaring had to be stopped again, etc.) -- but this looks worse than when they were putting the cap on and all the vents were open. Of course this is merely untrained, amateur observation, but previously this camera had been trained on the BOP/LMRP joint -- now the whole thing is covered in oil spew - coming from BELOW (as opposed to from the valves on top of "top hat"). If so, perhaps the LMRP just decided to give up the ghost? This third angle is a bit better, but would welcome comment on what portion of the machinery we are looking at is exactly what:

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/incident_response/STAGING/local_assets/html/Enterprise_ROV_2.html

Mon, 06/21/2010 - 22:48 | 426024 buzzsaw99
buzzsaw99's picture

He'll fit right in at the synagogue of satanic central bankers.

Mon, 06/21/2010 - 22:20 | 426027 rich_maverick
rich_maverick's picture

Am I the only one reading "billion" where "trillion" should be?  Tyler, get someone to proof read your article.  You are trying to scare people (as they should be) ... But, this reminds me of "Austin Powers" and Dr. Evil asking for "1 million dollars!!!".  

 

Mon, 06/21/2010 - 23:03 | 426095 clagr
clagr's picture

billion, trillion, gadzillion---OMGWTF does it matter any more

Mon, 06/21/2010 - 23:44 | 426148 AVP
AVP's picture

No...it really doesn't.

Tue, 06/22/2010 - 00:06 | 426172 UGrev
UGrev's picture

you all got it wrong.. it's a BRAZILLIAN! :)

Tue, 06/22/2010 - 00:32 | 426205 G-R-U-N-T
G-R-U-N-T's picture

Magma.....

Mon, 06/21/2010 - 22:23 | 426029 Turd Ferguson
Turd Ferguson's picture

This fucking Orszag guy is a first class douchebag.

Knocked up one broad while engaged to another. Glad to see him go. Sadly, his next career will undoubtedly be either "guest contributor" on CNBS or as a asshole-sucking lobbyist for GS. Either way, he's about to ring the cash register on his brief stint at OMB. 

Mon, 06/21/2010 - 23:03 | 426074 bob_dabolina
bob_dabolina's picture

At least he's knocking up broads.

It seems like the next indicated step (for America) is for Janet Napalitano to be bangin' Kagan while Rahm is sniffin' Kagan's ass waiting for Biden to jump in with the big black rubber fist.

*If a shit stained rubber fist is found in the closet of Barrack Obama hidden under a jizz covered pair of black satin undies (D.N.A matches Barney Frank) you will know exactlly what is happeing in D.C.

Really would put the M. Lewinski scandal to shame.

Mon, 06/21/2010 - 23:08 | 426104 TheGoodDoctor
TheGoodDoctor's picture

bob this sounds like a Bill Hicks rant! LOL.

Tue, 06/22/2010 - 00:33 | 426207 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

+1

Mon, 06/21/2010 - 23:29 | 426135 Mr Creosote
Mr Creosote's picture

You left out the UFO. The fact that you can conceive of such a scenario may just qualify you to become Pete's replacement on this ship of fools. Thanks for the chuckle.

Mon, 06/21/2010 - 23:41 | 426146 AVP
AVP's picture

OMG........That was a hilarious rant! Bravo!

Mon, 06/21/2010 - 23:50 | 426160 Turd Ferguson
Turd Ferguson's picture

"shit-stained rubber fist"

+ a lot

Tue, 06/22/2010 - 00:18 | 426191 SilverIsKing
SilverIsKing's picture

Just so I don't get the wrong shit stained rubber fist when searching Obama's closet, would that be a right or left handed shit stained rubber fist?

Tue, 06/22/2010 - 00:35 | 426211 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Kagan has the fist Bitchez!  LOL

Tue, 06/22/2010 - 02:55 | 426337 thisandthat
thisandthat's picture

If you wanted a better tool to sneakily implement the eugenicists' agenda, you wouldn't find one.

Mon, 06/21/2010 - 23:14 | 426117 TheGoodDoctor
TheGoodDoctor's picture

That's funny. I would have sworn the guy was gay. Were the chicks hot that he has been banging? That dude is one ugly MF!

Tue, 06/22/2010 - 00:09 | 426171 Turd Ferguson
Turd Ferguson's picture

I hear he's hung like Kareem Abdul-Jabbar.

(Obligatory with any mention of KA-J)

http://www.youtube.com/watch?v=fVq4_HhBK8Y

Tue, 06/22/2010 - 00:04 | 426167 Turd Ferguson
Tue, 06/22/2010 - 02:54 | 426335 TheGoodDoctor
TheGoodDoctor's picture

Well the one gal that he is engaged to is pretty hot. Lucky SOB. Also, the one that had his love child kind of looks like a dude. Maybe a pre op tranny with fake boobs? But then again, she did have a baby. LOL.

Tue, 06/22/2010 - 06:43 | 426403 The Merchant of...
The Merchant of Venice's picture

Claire is Claire Milonas.  She's probably the only profit making venture Peter has ever sniffed.

Mon, 06/21/2010 - 22:23 | 426030 Gimp
Gimp's picture

The entire Obama Economic team could quit and no one would notice...useless as tits on a bull.

Mon, 06/21/2010 - 22:27 | 426034 zaknick
zaknick's picture

Can't wait for the colapse when all these rats get thrown out on the street after getting paid by us to help these fascist scum rob us of not just our money but our rights as well.

Mon, 06/21/2010 - 22:27 | 426035 nmewn
nmewn's picture

What's going on???...what's wrong with these people???...he graded himself a SOLID B+.

Clearly they were unworthy to stand in the Ones shadow ;-)

Mon, 06/21/2010 - 22:28 | 426036 Young
Young's picture

Tyler, are you a a trading bot gone rogue? How can you write this much otherwise?

Mon, 06/21/2010 - 22:28 | 426037 FischerBlack
FischerBlack's picture

So CNY drops against USD today? After all that bullshit about China letting the currency appreciate, it drops? Is China manipulating a backhand slap across the Administration's face, or is this just the start of The All-Time Biggest Backfire Ever?

These are the key crosses I'm watching: EURJPY, USDCNY, LOLBRB, and OMGWTF

 

Mon, 06/21/2010 - 22:43 | 426060 Mitchman
Mitchman's picture

The OMGWTF pair seems to be forming an exclamation point shape on the chart for a major move up to new highs.

Tue, 06/22/2010 - 00:38 | 426215 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Disclaimer: LONG OMGWTF!!!

Tue, 06/22/2010 - 01:16 | 426272 WeeWilly
WeeWilly's picture

Short FUBAR.

Mon, 06/21/2010 - 22:32 | 426043 Al Gorerhythm
Al Gorerhythm's picture

Goldman Sachs' Thank Tank.

Mon, 06/21/2010 - 23:09 | 426044 TheGoodDoctor
TheGoodDoctor's picture

Ah, the missing "piece". Isn't that actually Orszag's hair piece? :)

Mon, 06/21/2010 - 23:20 | 426126 Fred Hayek
Fred Hayek's picture

He loves Paul Simon's music and any movie or show with William Shatner in it.

Tue, 06/22/2010 - 01:10 | 426235 G-R-U-N-T
G-R-U-N-T's picture

I remember an episode of "Get Smart" in which KAOS was smuggling diamonds through Customs under men's hair pieces.

 

Mon, 06/21/2010 - 22:34 | 426046 Cookie
Cookie's picture

Vacancy; proof reader for ZH

Mon, 06/21/2010 - 22:39 | 426056 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Thanks for the update Tyler, but Orsag is a puppet, and the White House is a stage.  His dissent was not his own, it was a Beta test to see who was listening.

Mon, 06/21/2010 - 23:11 | 426108 TheGoodDoctor
TheGoodDoctor's picture

Well Mr. Lennon Hendrix, I guess this is a good thing that Orszag is leaving. I thought he would be part of the plan to "fix" social security since he wrote a book on doing so and several papers.

I'm still wondering how they are going to do it. Or more importantly when. I know Dubya talked about fixing social security. Might just happen on Obammer's watch.

Mon, 06/21/2010 - 23:14 | 426116 Apostate
Apostate's picture

They'll introduce means tests that restrict the payouts so much so as to eliminate the programs entirely. But they'll keep collecting the taxes fully.

They'll try to protect the AARP demographic as long as possible to avoid too much incumbent blood loss.

Depending on whether or not crazy shit happens politically, it means either hunker down like fuck in the US or get out of the country. 

Tue, 06/22/2010 - 00:41 | 426221 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Depending on whether or not crazy shit happens politically

You want to share your own sense of the likelihood that it will be "not crazy shit" ?

Tue, 06/22/2010 - 01:22 | 426276 Apostate
Apostate's picture

Outbreaks of public violence are a strange thing. It's not always predictable.

Chances of crazy shit are near-100%.

The longer they extend and pretend, the more violent and chaotic it will be. It'll be easier to judge what comes next after the November elections.

Impeachment's looking more likely every day!

Mon, 06/21/2010 - 22:45 | 426061 trillion_dollar...
trillion_dollar_deficit's picture

I guess the idea of simultaneously defending his ponzi US budget and the ponzi US healthcare reform scam is just a bit too much. Bending the cost curve and all that shit.

Justice states this mother fucker is hung from a light pole right next to witch Pelosi.

Mon, 06/21/2010 - 22:48 | 426067 Turd Ferguson
Turd Ferguson's picture

Not sayin. Just sayin.

http://www.debka.com/article/8866/

Mon, 06/21/2010 - 22:56 | 426083 buzzsaw99
buzzsaw99's picture

zionists own teh usa.

Tue, 06/22/2010 - 00:52 | 426237 Reductio ad Absurdum
Reductio ad Absurdum's picture

So long Mr. Buzzsaw. You'll never show up on my screen again. Buh-bye!

Mon, 06/21/2010 - 22:48 | 426068 Xibalba
Xibalba's picture

"It's the womans fault!"  Watch the spin inbound....

Mon, 06/21/2010 - 22:49 | 426069 tempo
tempo's picture

Lets do the math.   Globalization (cheap labor) = no jobs/recovery = no taxes = massive deficits + no housing recover + GOM/BP disaster = ????    If I was Obama I would be golfing everyday and wondering why in the hell anyone would want this job.  Its a bitch.

Mon, 06/21/2010 - 22:58 | 426084 Apostate
Apostate's picture

No shit.

I'd show up naked on TV and announce a porn stimulus bill. I'd write a $100,000 check to every American who posts an amateur porn flick on Youtube.

Afterwards, I'd use the backlash to use Lieberman's killswitch.

No one wants to see an average American naked. 

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