Obama’s Former Budget Director: Obama Will Have to Negotiate Debt Limit With Less Leverage

Peter Orzag, President Obama’s former budget director said on CNBC this morning that, “I think the White House in this second-best world won that round, but by not insisting that the debt limit be tied to that package it’s entirely possible they’re going to win the week and lose the quarter. You can’t know yet until you see how February and March play out, and I think there’s no doubt they have somewhat less leverage than they did in the round that just completed.”