Summers Says Biden Budget Risks Overheating U.S. Economy
- Ex-Treasury secretary says budget based on outdated forecasts
- Summers says administration needs to count as well as care
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Former Treasury Secretary Lawrence Summers said President Joe Biden’s budget is built on outdated economic forecasts and risks overheating the U.S. economy.
While Summers said Biden is right to be trying to fix infrastructure and reduce inequality, he is worried by the likelihood of large budget deficits.