Salient to Investors:

Peter Orszag at Citigroup said efforts to rein in federal deficit spending should be delayed until the US is better positioned to handle a contraction in government spending. Orszag said we need another round of infrastructure spending and tax cuts coupled with deficit reduction – an agreement on the fiscal cliff would slow expansion by 1 percent to 1.5 percent of GDP, insufficient to undo the progress on housing and economic momentum.

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