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11 stunning revelations from Larry Summers’s secret economics memo to Barack Obama


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11-stunning-revelations-from-larry-summers-secret-economics-memo-to-barack-obama
The Enterprise Blog:

James Pethokoukis
January 23, 2012

A lengthy piece in The New Yorker looks at policymaking in the Obama White House. A key source for writer Ryan Lizza is a 57-page, “Sensitive & Confidential” memo written by economist Larry Summers—eventually to be head of Obama’s National Economic Council—to Obama in December 2008. Here’s some of what I learned about Team Obama’s thinking as the financial crisis was exploding, followed by quotes from the memo itself:

1. The stimulus was about implementing the Obama agenda.

The short-run economic imperative was to identify as many campaign promises or high priority items that would spend out quickly and be inherently temporary. … The stimulus package is a key tool for advancing clean energy goals and fulfilling a number of campaign commitments.


(Snip)


It just gets better...or worse depending on your view.
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