Capitol Report: Larry Summers says deficit reduction would be ‘catastrophic,’ argues for new government debt yardstick

An all-star panel of economists implored Congress to pass a major new coronavirus stimulus package, with former U.S. Treasury Secretary Larry Summers making the argument that Washington politicians should become much more comfortable with large deficits and a growing national debt.

An all-star panel of economists implored Congress to pass a major new coronavirus stimulus package, with former U.S. Treasury Secretary Larry Summers making the argument that Washington politicians should become much more comfortable with large deficits and a growing national debt.