CBO Director: US Debt Default Would be a 'Dangerous Gamble'

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DATE : Tue, 14 Jun 2011 12:39:08 -0700
Entered in Database : 2011-06-14 19:39:08
length : 12436678
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Douglas Elmendorf, Director of the Congressional Budget Office, says the US "can't afford to take the views of its creditors lightly" as it considers "dangerous gamble" of government default. "Leaders of both political parties have made clear that defaulting on government obligations is not acceptable, and will not be allowed to happen," he says.

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Congressional Budget Office Director Douglas Elmendorf speaks with reporters at the Christian Science Monitor Breakfast. This program was recorded on June 14, 2011.

Douglas W. Elmendorf is the eighth Director of the Congressional Budget Office. His term began on January 22, 2009.

The Director of CBO oversees the agency's work in providing objective, insightful, timely, and clearly presented information about budgetary and economic issues. The Director supervises the numerous analytical papers and cost estimates produced by the agency, and he testifies frequently before Congressional committees. In managing the agency, the Director is responsible for a staff of about 235 people and an annual budget of roughly $40 million.