Peter Orszag Explains How To Do Stimulus The Right Way, And A Social Security Reform That Democrats Could Get Behind

Business Insider

We recently had Peter Orszag (Citi Vice Chair and former Obama OMB director) in the office for a discussion on the U.S. budget. In a previous clip he explained the flawed assumptions behind the Paul Ryan budget.

In this clip he offers his own ideas for the budget.

Orszag favors a continued payroll tax holiday that's expiration is connected to the labor market.

For the long term, he puts forth a Social Security reform that he thinks liberals could get behind. It would involve taxing a higher level of wages (to account for wage inflation) while also making benefits more progressive.

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