zlacker

His influence significantly reduced the size of the stimulus bill, which meant significantly higher unemployment for a longer duration and significantly less spending on infrastructure which is so beneficial to economic growth that it can't be understated. Yes, millions of people suffered because of him.

The fact that you think current inflation has anything to do with that stimulus bill back then shows how little you understand about any of this.

Larry Summers is the worst kind of person. Somebody who is nothing but a corporate stooge trying to act like the adult by being "reasonable", when that just means enriching his corporate friends, letting people suffer and not spending money (which any study will tell you is not the correct approach to situations like this because of multiplying effects they have down the line).

Some necessary reading:

https://archive.ph/FU1F

https://archive.li/23tUR

https://archive.li/9Ji4C

In regards to watering it down to get GOP votes: https://archive.nytimes.com/krugman.blogs.nytimes.com/2009/0...

>>Sakos+(OP)
> His influence significantly reduced the size of the stimulus bill

Well, he also caused the IRA to pass by telling Manchin that it wouldn't be inflationary.

But remember when he released this prediction in 2021?

> Larry Summers on U.S. economic outlook:

> 33% odds of stagflation

> 33% odds of recession

> 33% rapid growth, no surge in inflation

All that hedging and then none of those things happened!