Larry Summers says that America must end the disastrous trends toward less government spending and employment each year and take advantage of the current...

Larry Summers says that America must end the disastrous trends toward less government spending and employment each year and take advantage of the current period of economic slack to renew and build infrastructure. If the federal government had invested more over the past five years, the U.S. debt burden relative to income would be lower: allowing slackening in the economy has hurt its long-run potential. Summers goes on to say that raising demand also means encouraging private spending. Much could be done in the energy sector to unleash private investment toward fossil fuels and renewables. Regulation that requires more rapid replacement of coal-fired power plants would increase investment and push growth as well as help the environment. And it is essential in a troubled global economy to make sure that a widening trade deficit does not excessively divert demand from the U.S. economy. Read more: (VIEW LINK)


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