The Leader Board
Jun 06 2012
One-time Obama Econ Guru Larry Summers Joins Call To Extend All Tax Rates, Says 'Real Risk To This Economy' Is Slow Down
Summers: 'Gotta Be The Top Priority'
"Lawrence Summers said Wednesday that Congress should temporarily extend Bush-era tax cuts, making him the second person with ties to the White House who is undercutting President Barack Obama's position that the rates on upper-income Americans should rise at year's end." ("Summers Says Tax Cuts Should Be Extended," The Wall Street Journal, 6/6/12)
- "Mr. Summers's comments will likely further complicate Mr. Obama's efforts to ensure the tax cuts expire at year's end… and his comments will likely carry more weight because of his economic credentials." ("Summers Says Tax Cuts Should Be Extended," The Wall Street Journal, 6/6/12)
MIKA BRZEZINSKI, MSNBC: "You heard Bill Clinton talking about the tax cuts, obviously we had some pretty terrible unemployment numbers come out late last week. What would you advise the President to do at this point?" LARRY SUMMERS: "Look, the real risk to this economy is on the side of slow down, certainly not on the side of overheating and that means we've got to make sure that we don't take gasoline out of the tank at the end of this year. That's gotta be the top priority." (MSNBC's "Morning Joe," 6/6/12)
President Clinton: 'Economy Already Is In A Recession'
"Former President Bill Clinton told CNBC Tuesday that the US economy already is in a recession and urged Congress to extend all the tax cuts due to expire at the end of the year." ("US Already In 'Recession,' Extend Tax Cuts: Bill Clinton," 6/5/12)
- "Clinton did say that Congress would be best off agreeing, at least for the time being, to extend all the tax cuts that are set to expire at the end of the year, including the so-called Bush tax cuts named after Clinton's successor, George W. Bush." ("US Already In 'Recession,' Extend Tax Cuts: Bill Clinton," 6/5/12)
PRESIDENT BILL CLINTON: "I think what it means is they will have to extend… have to put everything off until early next year. That's probably the best thing to do right now… I don't have any problem with extending all of it now." (CNBC's "Closing Bell," 6/5/12)
- CLINTON: "What I think we need to do is to find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now, and then deal with what's necessary in the long-term debt reduction plans as soon as they can…" (CNBC's "Closing Bell," 6/5/12)
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