February 26, 2009 / 4:39 PM / in 9 years

Policy shift will avert $9 trillion deficit: Orszag

WASHINGTON (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.

Editing by Jackie Frank

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