One way of looking at this might be that monetary policy leaves a mark, one of which is probably the types of fiscal policy that are tolerated for some time after. Maybe another way to look at it it this: There's all kinds of complications to fixing a lack of liquidity with liquidity. Human beings adapt.
Another way to think about it is that when finance has grown something like 5 times larger relative to the economy than it was before the Reagan/Thatcher revolution, but that its essential function to the economy remains static, then maybe finance people like Mr. Summers are nothing more than a drag on the economy. Maybe we need a new way to think about the role of people like Summers and his ilk. All this talk seems like rationalizing the trillions of dollars of wealth that the banking sector has stolen from the middle class over the last few decades. Yes, the economy is sick. That's where our main agreements end. We shouldn't let people like Larry Summers, who are some of the main architects of what's wrong with the economy, lecture us now on how to fix it.