WASHINGTON, Feb 26 (Reuters) - President Barack Obama's budget director said on Thursday that without a shift in policies the U.S. deficit would reach $9 trillion over the next decade.
White House budget chief Peter Orszag said the Obama administration's budget outline reflects costs for the war in Iraq and other items that were previously not included in the budget.
"All told we are showing $2.7 trillion in costs in this budget that were excluded from previous budgets and I think that is a mark of the honesty and responsibility contained in this document," he said.Its worth observing that honesty and responsibility is easy when it is self-serving. In this case, it is clearly in Obama's interest to portray the deficit he inherited to be as large as possible so that he can claim to be a deficit reducing fiscal conservative in 2012.
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