...in the current economic climate.

    It neglects the reality that deferring infrastructure renewal places a burden on future generations just as surely as does government borrowing.

This seems pretty vital. If we can keep the borrowing level reasonable, spend it all on infrastructure and allocate the funds correctly ... lot of ifs.

b_b:

Larry Summers can go fuck himself. IMF can go fuck itself, too. This isn't revolutionary or groundbreaking. It's just econ 101.

Where was he back in '09 when all the stimulus spending was being undertaken? We could have spent $2-3 Trillion at that time (mostly on infrastructure improvements, which are desperately needed), because BO was in a position to do whatever he wanted. Larry and his crew played politics and recommended less than a third of that.

It's always the same thing with these "liberals". Robert Reich did the same shit: dropped the ball when he had a chance to act (remember, both of these dipshits were big shots in the Clinton administration, back when the Clinton administration was busy dismantling all the Depression-era financial rules that were put there for a good goddam reason), but then made a fuckload of money on a book tour about how fucked the current financial and economic systems are. Excuse me for not feeling uplifted by their brilliance.


posted 3481 days ago