Tag: Larry Summers

Summers: Trump’s Budget Wouldn’t Pass Econ 101

Buck Banks

“Details of President Trump’s first budget have now been released. Much can and will be said about the dire social consequences of what is in it and the ludicrously optimistic economic assumptions it embodies. My observation is that there appears to be a logical error of the kind that would justify failing a student in an introductory economics course.”

— Former Fed Chairman Larry Summers

Wait for the Three Ds when Trump Can’t Deliver

Buck Banks

The new U.S. president will be operating on a very weak political foundation, is very unlikely to be able to deliver the results he has promised to key constituencies, and seems likely to take dangerous gambles in the international arena. This makes it probable that a cycle of growing disillusion, disappointment and disapproval will set in within a year.

— Larry Summers