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Larry Summers Calls Biden’s Economic Agenda ‘Excessive’

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Former Treasury Secretary Larry Summers criticized both the scale and direction of the Biden administration’s fiscal policies in a Financial Times interview.

Instead of applauding its boldness, he fears they will lead to significant overheating and waste of resources: “I’m concerned that what is being done is substantially excessive.”

“If Summers is wrong, it will matter little. If he is right, the hopes for a transformative presidency are likely to end in catastrophic economic and political disappointment. It is an immensely important argument.”

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About Political Wire

Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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