Orszag: "Houston, We Have A Problem"

WASHINGTON, April 27 (Reuters) - President Barack Obama's top budget adviser, Peter Orszag, said on Tuesday that the U.S. government must significantly alter its policies in order to tackle a growing mountain of debt.
Orszag warned that huge deficits could cause the market to lose confidence in a government's creditworthiness.
Out-of-control deficits could also "require increased borrowing abroad which will mortgage our future income to foreign creditors," Orszag told the first meeting of the 18-member National Commission on Fiscal Responsibility and Reform.

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Well, duh!