Lawrence Summers
Lawrence Summers
Lawrence Henry "Larry" Summersis an American economist who is President Emeritus and Charles W. Eliot University Professor of Harvard University...
NationalityAmerican
ProfessionPolitician
Date of Birth30 November 1954
CountryUnited States of America
critical economic expansion government moment people plan strong time
The government has done its part, now it's time that people do their part, ... We have never, in our country, had a moment of economic expansion as strong as the present. So right now it is critical to plan for future.
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But ultimately what I was impressed by during my years in government was how much the intellectual climate and the prevailing intellectual notions constrained and represented the universe within which the discourse took place.
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The ongoing task of debt management for the federal government will clearly be very different in the years ahead than it has been in the past, when debt was rapidly increasing, ... With $3.6 trillion in debt outstanding, even a 3 basis point (0.03 percentage point) reduction in federal borrowing costs will ultimately produce savings of more than $1 billion per year.
alongside capital create fact flow focus framework government markets needs private rather role support vast
The IMF needs to focus on the fact that it and all of us in government are alongside what are now vast private markets, ... Our role needs to be (to) support rather than supplant those private markets and to try to create a framework in which the flow of private capital will be stable.
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You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government.
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These developments create a situation where I think there is more room than there might have been in the past to sit back and analyze what it is that happened, and think best about how in all of our countries we can avoid a recurrence of such problems,
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Raising personal savings is an imperative for American families and an imperative for the national economy,
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The success of the India-US relations depends on connections in other fields. The experiences of young people will shape the future of the India-US relations.
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U.S. budget and current account deficits are very important contributors to an unbalanced global economy, while the U.S. deficit has been a source of demand that has propelled the global economy forward for some years now.
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to take strong steps... to create confidence and to build on the very strong foundation for prosperity that Indonesia enjoys.
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The president has set a principle: No bank with an unsatisfactory CRA rating could take advantage of any of the powers granted by this deregulation,
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The president has made it very clear that he will not sign any budget measure that doesn't put Social Security and Medicare first, that doesn't take those steps forward (and) certainly any measures that would put at risk the progress we've made in paying down the debt,
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We believe the global expansion needs to be balanced up, not balanced down, ... An adjustment should take place in our countries through increased public savings. Internationally, there needs to be an adjustment through an increase in exports rather than reduced imports.
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Today, the IRS operates in a low-trust, short-tether budgeting environment, ... This makes rational planning for capital projects such as information technology very difficult.