New York Times Transcript of President Elect Obama’s comments: “One of the measures of irresponsibility that we’ve seen is the enormous federal debt that has accumulated, a number that has doubled in recent years. As we just discussed, my budget team filled me in on – Peter Orszag now forecasts that, at the current course and speed, a trillion-dollar deficit will be here before we even start the next budget, that we’ve already looked – we’re already looking at a trillion-dollar budget deficit or close to a trillion-dollar budget deficit, and that potentially we’ve got trillion-dollar deficits for years to come, even with the economic recovery that we are working on at this point.