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.
Read the full article at http://www.bloomberg.com/news/2012-11-07/economic-growth-first-then-austerity-orszag-says-tom-keene.html