"Investment" and Obama's First Budget

Brief

"Investment" and Obama's First Budget

The Government We Deserve
January 6, 2009

Abstract

President-elect Obama's chief in-house economic advisor Larry Summers suggests in a recent Washington Post piece that the new Administration will put a lot of effort into addressing long-term growth challenges, not just short-term policies that generate consumer spending. How? Through "investments." To make sure we get the point, Summers uses that word or some variation 12 times.

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