Summers calls for new boost to economy

Townhall Staff

Jun 13, 2011 9:57 AM Jun 13, 2011

Opinion

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WASHINGTON (Reuters) - Former White House aide Larry Summers on Sunday urged expanded tax cuts on U.S. workers' wages, warning that America's economy was at risk of years of Japan-style stagnation without a further boost.

In an opinion piece published by Reuters on Sunday, Summers -- a Harvard professor and former Treasury secretary under President Bill Clinton -- argued that it would be "premature" to withdraw fiscal support for the economy at the end of 2011.