OMB director warns growing deficit a threat to American economy

White House Budget Director Peter Orszag warned Tuesday that large federal deficits will eventually imperil the U.S. economy because they will lead to higher interest rates and more borrowing from overseas.

Orszag, in a speech in New York, said that deficits, expected to add $9 trillion to the current national debt of $12 trillion over the next decade, are "serious and ultimately unsustainable."

Read More at TheHill.com..

http://thehill.com/homenews/administration/66085-omb-director-warns-growing-deficit-a-threat-to-us-economy