Summers Calls for More Stimulus

Good luck getting this past Congress. Former U.S. Treasury Secretary Lawrence Summers took to Reuters to call for another round of stimulus. It’s too soon to worry about deficits and inflation, he says, when the economy still suffers from a lack of demand. If we don’t increase demand, we risk remaining in economic doldrums for years, which would be more damaging to our creditworthiness than the deficit. Summers recommends infrastructure investment and increased payroll tax cuts.