HKS Affiliated Authors
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor
Excerpt
Excerpt
Austerity would hurt U.S. jobs and growth. Lawrence Summers, June 2, 2013, Opinion. "Around the world the idea of “austerity” is fiercely debated. The various strengths and weaknesses of the global economy make opportune a reconsideration of the principles that should guide fiscal policy: Paced by housing and energy, the U.S. recovery is likely to accelerate this year, and budget deficit projections have declined as well; meanwhile, theEuropean economy remains stagnant, though there is evidence that stimulative policies are gaining traction in Japan. It is critical that policies be set in light of economic circumstances..." Link