Summers Says GOP Fiscal Plans Set US Up for ‘Liz Truss Moment’
- Politicians are underestimating budgetary risks, Summers says
- Former Treasury chief speaks on Bloomberg’s ‘Wall Street Week’
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Republican politicians are setting the US up for a “Liz Truss moment” by promoting policies that would widen fiscal deficits and weaken the dollar, former Treasury Secretary Lawrence Summers said.
“Republicans are talking all about deficit-increasing measures — whether it’s on the defense spending side or on the tax cutting side — with nothing really pointing toward any kind of control, and at the same time making it harder for the country to sell its debt by trashing the currency,” Summers said on Bloomberg Television’s Wall Street Week with David Westin.