At NYU Wagner event, OMB Director Orszag describes remedies for U.S. deficit [Video]
Peter Orszag, Director of the federal Office of Management and Budget (OMB), talked about the enormous U.S. budget deficit, its primary causes, and its potential implications for health care, higher education, and the career prospects of younger people in an address November 3rd at New York University sponsored by the Robert F. Wagner Graduate School of Public Service. Orszag was introduced by John Sexton, NYU's President, and Ellen Schall, the Dean of NYU Wagner, who served as the event's moderator and in her opening remarks noted that Orszag was the youngest member of President Barack Obama's cabinet.
Last year, Orszag told the audience of more than 400 people at NYU's Kimmel Center, the federal deficit was $1.4 trillion ,and a comparable budget gap is projected for the present fiscal year. Over the next decade, he said, the federal government is projected to generate additional red ink of $9 trillion. "Deficits of this size are serious and ultimately unsustainable," Orszag said.
The event was broadcast live by Fox Business while generating a significant amount of public interest and media coverage. To read an official text of the speech or view the NYU webcast, click on the links below.
Barack Obama at NYU Wagner
Bill Gates' Letter to the World
In January, 2009, Bill Gates shared his first "Annual Letter" relating his expanded role at the Bill and Melinda Gates Foundation, and priorities for the Foundation during the year ahead. In the letter, Gates discusses: why he remains optimistic in the face of the current economic crisis, and the Foundation's work in their focus areas of global development, global health and U.S. programs. Gates specifically details the progress that has been made in the field of global health, and the importance of moving that work forward, with special focus on HIV/AIDS, polio, malaria, and childhood health; the critical need for agricultural improvements in Africa; the state of U.S. education, and the Foundation's new strategic approach; and the role of foundations, and the importance of partnerships between the sectors.
The Gates Foundation's focus on global development resonates strongly at NYU Wagner, where one-third of students are pursuing an International specialization with their MPA. Wagner is also home to the Financial Access Initiative (FAI), a research consortium launched with support from the Gates Foundation in 2006. FAI is a consortium of leading development economists focused on substantially expanding access to quality financial services for low-income individuals. FAI is led by Managing Director Jonathan Morduch (NYU Wagner), Director Dean Karlan (Yale), and Director Sendhil Mullainathan (Harvard).
To receive Bill Gates' annual letter, please visit the "Annual Letter Sign Up" link below.