Larry Summers calls for $100 billion in infrastructure spending
A former chief White House economic advisor is urging lawmakers to approve $100 billion in additional infrastructure spending to help boost the economy and prevent stagnation; Larry Summers, the former director of the White House National Economic Council for President Obama, wrote that it would be “premature” to limit fiscal support for the economy at the end of 2011
A former chief White House economic advisor is urging lawmakers to approve $100 billion in additional infrastructure spending to help boost the economy and prevent stagnation.
In an op-ed published on Sunday, Larry Summers, the former director of the White House National Economic Council for President Obama and President Clinton’s Treasury Secretary, wrote that it would be “premature” to limit fiscal support for the economy at the end of 2011.
Summers’s comments are in response to lawmakers’ efforts to cut the deficit by reducing spending. This has sparked a fierce debate over what program will face budget cuts including infrastructure spending, and unemployment benefits.
In an interview, Summers added that spending an additional $100 billion in infrastructure over the next several years would benefit the economy and recommended providing additional aid to states and cities.
