Are America's Fiscal Policies Sensible? Yes, But They Are Not Strong Enough

Larry Summers:

Summers: America’s sensible stance on recovery: Economic commentators are mired in an unhelpful dialectic between “jobs” and “deficits” that has obscured rather than clarified the policy choices.... Critics have complained that the continued commitment by the administration of President Barack Obama to support recovery in the short term and also to reduce deficits in the medium and long term constitutes a “mixed message”. In fact, it is the only sensible course in an...