Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Larry Summers Pens Op-Ed Taking Aim at Size of Biden's Stimulus Bill
Posted
February 5, 2021
Views
1,491
Likes
13
Comments
13
Engagement
February 5, 2021
1,491
13
13
1.74%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
2:48Now PlayingFor a second this morning, it seemed President Joe Biden might back down from his $1.9 trillion plan to help the pandemic-battered U.S. economy. Politico reported the White House was listening to warnings from former Treasury Secretary Larry Summers not to go too big.
But then the January jobs report came out, and it was pretty bad, and big relief was back on the menu. Biden and many around him rushed to say they feared doing too little rather than too much, displaying a shocking degree of learning from the mistakes of President Barack Obama. These were also partly the mistakes of Larry Summers, who helped build Obama’s inadequate stimulus package in 2009, notes Karl Smith. Summers says spending too much now will make it harder to spend more on infrastructure later, but Karl counters there’s no basis for such fear. In fact, a strong economy could help us better afford to upgrade its foundations.
Subscribe to our YouTube channel
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
