Lawrence Summers
Lawrence Summers
Lawrence Henry "Larry" Summersis an American economist who is President Emeritus and Charles W. Eliot University Professor of Harvard University...
NationalityAmerican
ProfessionPolitician
Date of Birth30 November 1954
CountryUnited States of America
adjustment balanced believe countries expansion exports global increased needs public rather reduced
We believe the global expansion needs to be balanced up, not balanced down, ... An adjustment should take place in our countries through increased public savings. Internationally, there needs to be an adjustment through an increase in exports rather than reduced imports.
aptitude intrinsic issues proved
There are issues of intrinsic aptitude ... I would like nothing better than to be proved wrong.
critical economic expansion government moment people plan strong time
The government has done its part, now it's time that people do their part, ... We have never, in our country, had a moment of economic expansion as strong as the present. So right now it is critical to plan for future.
budgeting capital environment information irs planning projects rational technology
Today, the IRS operates in a low-trust, short-tether budgeting environment, ... This makes rational planning for capital projects such as information technology very difficult.
liquid market pleased response
We have been pleased with the market response (to the 10-year indexed notes), ... A liquid market has developed.
expansion mindful
We are mindful that we must not take our expansion for granted.
formal requests
We are not contemplating formal requests from any other country,
among continue cooperate discussed economic emphasized exchange financial major markets monitor rates reflect view
We discussed developments in our exchange and financial markets, ... In this context, we emphasized our view that exchange rates among major currencies should reflect economic fundamentals. We will continue to monitor developments in exchange markets and cooperate as appropriate.
ahead basis billion borrowing clearly costs debt federal government management ongoing percentage point produce rapidly reduction savings task trillion ultimately
The ongoing task of debt management for the federal government will clearly be very different in the years ahead than it has been in the past, when debt was rapidly increasing, ... With $3.6 trillion in debt outstanding, even a 3 basis point (0.03 percentage point) reduction in federal borrowing costs will ultimately produce savings of more than $1 billion per year.
ensure strengthen time
Now is the time for us to strike. We must strengthen our foothold in Asia, to ensure no nation overtakes us.
I've always thought that underpopulated countries in Africa are vastly underpolluted.
climate discourse government impressed notions prevailing took ultimately
But ultimately what I was impressed by during my years in government was how much the intellectual climate and the prevailing intellectual notions constrained and represented the universe within which the discourse took place.
attack irs order promote
What we must not do is attack the IRS in order to promote other agendas,
expand further hoping
Ultimately, we're hoping to expand this further (beyond Boston).