Why Larry Summers is Wrong About $2,000 Stimulus Checks

Larry Summers, the former director of the National Economic Council under President Obama, has publicly spoken out against the $2,000 stimulus checks proposed by Bernie Sanders and President Trump. Summers’ argument is simple–the checks are projected to increase disposable personal income as a ratio of GDP to an unusually high level. For Summers, the fact that this figure would be elevated above normal levels is itself cause for concern. But the situation we are in is unprecedented, and it calls for an unprecedented response. Let’s run through some of the arguments.

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