White House budget director Peter Orzag told Reuters Insider in an interview on Wednesday that the United States must tackle its deficits quickly to avoid the kind of debt crisis that hit Greece.
Can't see how Orzag is suddenly concerned, he is the one spending.
Here is another from Financial Times:
On Tuesday, Barack Obama, US president, called Mr Zapatero and “discussed the importance of Spain taking resolute action as part of Europe’s effort to strengthen its economy and build market confidence”, the White House said.
Speaking in parliament, Mr Zapatero explained the measures Spain would take to reduce the deficit by an extra 0.5 per cent of gross domestic product this year and 1 per cent of GDP in 2011, a total of €15bn ($19bn, £13bn).
The same Obama who just added a one trillion dollar entitlement?
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