Summers: ‘We Do Need To Think About What We Can Afford To Do Given The Capacity Of Our Economy’ 1

Summers: ‘We Do Need To Think About What We Can Afford To Do Given The Capacity Of Our Economy’

 

Former Treasury Secretary to President Clinton and top economic advisor to President Obama, Larry Summers, joins Andrea Mitchell to advocate for a more targeted COVID relief bill and to push legislators "to think about what we can afford to do given the capacity of our economy.” Aired on 02/08/2021.
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About Andrea Mitchell: Andrea Mitchell is NBC News’ chief foreign affairs correspondent and host of MSNBC's "Andrea Mitchell Reports," an hour of political news and interviews with top newsmakers that airs each weekday at 12 p.m. ET on MSNBC.

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Summers: ‘We Do Need To Think About What We Can Afford To Do Given The Capacity Of Our Economy’

35 comments

    1. @GO GATORS Even so, you see what these soft liberals want to do now? Permanent tax credits of $3300+/year per child to help “curb poverty”. So all the welfare queens with 9 kids can now live more comfortably while taxes get raised on the working class. I think those crazy Trump supporters were right all along. The welfare state from obama/biden will get extended as taxes go up and gasoline goes back to $4/gallon.

    2. @Mike Ditka Right all along?You mean the Q following ones that tried storming the Capitol? Plus, Biden has made it pretty clear that he wants to bring the middle class up and has explained his strategy. The same middle class that lost jobs due to a virus that the orange tyrant downplayed….

  1. Have those that are paid 6 six figures to donate a month salary, especially those republicans whom gave that tax brake to the 1%.

    1. Fact: Before the Chinese virus spread across the world, Trump led America to the best stock and job numbers in 48 years. Trump also is the 1st President in over 40+ years to NOT start a foreign war.
      Biden’s 1st six executive orders ALREADY guarantee that he will be unable to match or exceed Trump’s fiscal/GDP numbers.

    2. @Mike Ditka That’s nice, you forgot (or your sources left out) the fact that Trump came into 10 years of economic growth with steady increases of employment each year, recovering quite well from the great recession. The numbers may not have been dramatic, but, like the tortoise and the hare, slow and steady wins the day. We won’t know the actual impact of Trump’s economic policies for several years, hopefully any negatives will be corrected by that time.
      I know you have your opinions, but don’t just write off the progress that was made before Trump, regardless to him claiming to have walked into “a mess”. I have my opinions too, obviously, but am willing to give credit to Trump for what I see as positive policy decisions he made.

    3. @Kristen Rdesinski also should add that in August 2019 Trump had the 4th largest single day market crash in history, in September 2019 his administration gave $500 billion to bailout the REPO Markets, and started QE lite to buy Bonds monthly for $60 billion and prevent a recession. Trump’s economy was falling apart in late 2019, before the virus was known in China. But 100% agree thank you Obama for the longest Bull Market in history…

      https://www.nasdaq.com/articles/the-fed-has-pumped-%24500-billion-into-the-repo-market.-where-does-it-end-2020-01-20

      https://www.marketwatch.com/story/fed-says-it-will-start-to-buy-treasury-bills-next-week-to-ease-money-market-pressure-2019-10-11-111034716

      https://www.cnbc.com/2019/08/14/stock-markets-wall-street-in-focus-amid-earnings-economic-data.html

    4. @Kristen Rdesinski Silly liberal, make up your mind. Did obama/biden walk into a recession in ’08 and turn it around in 4 years, or did they have a constant economy the whole time? LOL. It’s pretty obvious that you are completely clueless when it comes to economics, any1 can google honey, just remember, the quick 1 liners that stick out to you easily manipulated don’t tell you the whole story. What i originally said is 100% true, and you can’t admit it. More proof of how negative, angry, and bitter you are…the mdia really did a number on you. Try harder next time honey.

  2. I feel President Biden should go bigger without Republican support. Benefits haven`t been received yet because of Trump allowed them to expire in December. Almost 2 months the states have delayed the relief. Republicans have delayed all but one relief package. So I say to President Biden GO BIG without delay.

    1. These people got their own kitchen staff, no need to go to Walmart to get groceries, most of the time they eat out, when was the last time you had a small thin sliced steak? Well they have the 1 inch thick, the one that weights about 2 pounds at least 2-3 times a week, and wonder why their arteries are clogged with fat!

  3. I think some of these entitled rich have no concept of what it’s like to be one of those that is living in fear …fear of no food…fear of how to keep utilities on…how to pay rent…then theres work ,children,how to get the vaccine… this guy has great ideas but things need to be done now…

  4. The answer to the question of how much is more than $1,400, get in touch with the people a bit, at least pretend to have a soul

  5. Jesus, Andrea. Why on earth would you give Larry Summers air time? Your brilliant work over the last few years had made me finally stop condemning you by association for the sins of Alan Greenspan and now you do this? Summers has been consistently, embarrassingly, dangerously, and shamefully wrong. He fails upwards like a sports coach who’s never had a winning season but gets hired on name recognition and “experience”. On top of that, Summers has a highly questionable record on corruption and malfeasance in connection with his positions at educational institutions. But most importantly, he was dead wrong in 2009 and he’s dead wrong now. “Austerity”, like “trickle down economics”, has been given extensive real world testing and is now thoroughly debunked. And yet this stubborn narcissist continues to double down on his past horrific miscalculations. He should never EVER be allowed anywhere near a television camera. The damage he did after the last meltdown was incalculable. The only question with Summers is the degree to which his bad advice is based on stubbornness, versus stupidity, versus corruption. We wouldn’t have to answer that question if you wouldn’t shove him into our face and allow him to do further damage to our fragile economy in this time of extreme crisis.

    1. Not to mention his documented belief that women have an “inherent inepititude” when it comes to math and science. Gee, I wonder if that’s coloring his view on Sec. Yellen’s advice to the President.

  6. Interviewing this “cat” shows you how irresponsible the media continues to and how much they contribute to our chaotic times. No one has heard hardly a peep from Larry Summers for 12 years and now all of a sudden the Dems are back in control the MSM simply needs a foil for conflict. Hopefully, no one but the media is listening to him.

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