June 6, 2012
Lawrence Summers, director of President Obama’s first National Economic Council and one of his closest economic advisers, suggested Wednesday that all of the expiring Bush-era tax cuts should be extended temporarily in the face of a slowing economy, an opinion in stark contrast with that of the Obama administration.
“The real risk to this economy is on the side of slow down,” he said on MSNBC’s “Morning Joe” news program. “And that means we’ve got to make sure that we don’t take gasoline out of the tank at the end of this year.”
“That’s got to be the top priority,” Mr. Summers added.