HKS Authors

See citation below for complete author information.

Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor


In Professor Summers’ testimony before the Senate, he sets out to do three things: First, he characterizes the economic and fiscal outlook. Second, he reflects on the economics of austerity, arguing that too little of the policy debate in recent years has focused on the imperative of increasing economic growth which, in the short and medium term, goes back to issues relating to demand. Third, he comments on some of what he sees as policy priorities for the years ahead.


Summers, Lawrence H. "The Fiscal and Economic Effects of Austerity." Testimony to the U.S. Senate Budget Committee, June 4, 2013.