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October 17th, 2012
07:25 PM ET

Larry Summers defends stimulus spending, questions Romney's economic plan

Erin sat down with Larry Summers, the former director of the President's National Economic Council and president of Harvard University, to talk about why the President continues to struggle with polling on economic issues and whether Mitt Romney will be able to use this weakness to win the election.

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Filed under: 2012 Election • 2012 Presidential Debate • Economy • News • Politics
soundoff (2 Responses)
  1. Joey at Purdue Univ

    Well, to be fair, if that job which cost $294k can provide that person with a modest $35k/yr living, that could have a present value of almost $573k before taxes. They might not get back the full $294k solely from tax revenue off of that, but with the utilites & food & entertainment they'd be able to buy with that, could create a virtuous cycle for the economy.

    But I'm sure Mr. Summers has a lot of really smart friends to think about this stuff already.

    October 17, 2012 at 8:27 pm | Reply
    • Joey at Purdue Univ

      [Assumptions: They can hold the job 20 yrs, or use that job experience to get a long-term job; 2% rate of return]

      October 17, 2012 at 9:11 pm | Reply

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