link here to article
Larry Summers, now back at Harvard and out of the Obama administration has second thoughts on the need for stimulus. The GOP claims that we have a supply side problem that can be fixed by using the GOP panacea of tax cuts. Summers believes that we have a problem of inadequate demand. We could stimulate demand by taking advantage of low interest rates for government debt and investing in infrastructure to create jobs. We are half way through a lost decade. The GOP does not have a viable solution and the Obama administration is moving toward supply side remedies as well. Where was Summers when we needed him?
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