Larry Summers

If you argue that austerity works in cutting deficits over the longer-term but the short-term pain is worth it, that's a different argument than the one Republicans are making - and one not likely to get one elected, which is why they're…

I like how Summers’ prefaces it, noting his own notoriety for having a lot of swagger and then saying “Rarely, have I encountered such swagger, and I tried to respond in kind.”

If the US wants job growth, it will need to reduce private sector debt levels - and that takes time. The government can act a a counterweight to the demand drag but I am very sceptical of claims like Summers’ that doing so would solve a…