Obama's Economic Team, U.S. Debt and Deficit

July 6 (Bloomberg) -- Peter Orszag, vice chairman of global banking at Citigroup Inc. and a former director of the Office of Management and Budget, talks about turnover in President Barack Obama's economic team, the outlook for political agreement on the federal debt ceiling and budget deficit, and the value of a payroll-tax holiday in the current economic environment. Orszag, speaking with Carol Massar and Matt Miller on Bloomberg Television's "Street Smart," also discusses China's water policy. (Peter Orszag is a Bloomberg View columnist. The opinions expressed are his own. Source: Bloomberg)