Peter Orzag is a condescending asshole who would rather resort to gimmicks than admit that the American working class has been underpaid and overworked for thirty years. But hey, he’s a millionaire now!
Peter Orszag, now a new vice-chairman of global banking at Citigroup and former US Office of Management and Budget under Barack Obama, has written a provocative and (with all due respect, Peter) wrong-headed Financial Times oped proposing that the way to promote savings among America’s low-income workers is to attach the prospect of winning millions to them scurrying away a few dollars here and there — sort of a lottery ticket that goes into their savings rather than into state coffers to help subsidize education or to the profits of the local milk and cigarette stand.
The article was very good.
Orszag is a tool, a bought and paid for tool. No better than if he sold himself on 9th Avenue.