Monday, October 29, 2012

Larry Summers On The Obama And Romney Plans For Economic Recovery

The Financial Times has provided Larry Summers with a platform to frame the choice that American's will make in the 2012 election.  He faults the Romney plan for its lack of specificity since he does not provide details on how he will cut tax exemptions enough to compensate for the tax cuts that he has proposed.  He also does not understand how Romney can substantially increase the defense budget without cutting critical spending elsewhere.  He argues that Romney's strategy is simply to cut taxes and let the chips fall where he would like them to fall.

He describes some of the features of the Obama plan which he believes to be supportive of economic growth and he argues that it is a better plan than the non-plan proposed by Romney.

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