Lazard CEO and Chairman Peter Orszag Authors Debt Ceiling Elimination Opinion in The Washington Post

On January 14, The Washington Post published an oped authored by Lazard CEO and Chairman Peter Orszag, "Stop rolling the dice on the American economy," encouraging U.S. lawmakers come together to seize the opportunity to eliminate the debt limit and avoid future economic risks.

Peter details how the United States is weakened by the debt limit, which creates unnecessary risks without imposing fiscal discipline. Although originally established to give the United States Treasury Department more borrowing flexibility, the debt limit has since become a restrictive measure that hampers fiscal management. The piece emphasizes how periodic debt limit crises have consumed significant time and resources, created uncertainty, and raised interest rates and borrowing costs. Moreover, if the debt limit becomes binding later this year, it could lead to default, damaging trust in the U.S. dollar and harming the global economy.

Click here to read the full opinion. To view Peter’s archive and latest pieces in The Washington Post, click here.