And so the comedy circle is complete yet again after none other than former White House budget chief Peter Orszag throws cold water in the face of the White House, the Treasury and everyone else who has so far been so stupid to continue to deflect blame for America's horrendous fiscal situation purely on S&P and its "colossal $2 trillion mistake." Because if the guy who up until a year ago personally came up with the White House's voodoo numbers is telling you they are full of shit (the numbers, not the White House), perhaps it does put the administration's claim that it is all S&P excel spreadsheet skills that are at fault, in a slightly different light.
- ORSZAG: OFFICIAL U.S. ECONOMIC PROJECTIONS 'TOO OPTIMISTIC'
- PETER ORSZAG IS A FORMER WHITE HOUSE BUDGET CHIEF
- CITIGROUP INC.'S PETER ORSZAG COMMENTS ON BLOOMBERG TELEVISION
In the meantime, as posted yesterday, enjoy the CBO's far, far better predictive track record.