Biden ally Larry Summers, a former treasury secretary, said $2,000 stimulus checks would be a 'serious mistake' that could overheat the economy

Business Insider ^ | Dec 26 2020 | Samuel Horti

[rintintin]

Former US treasury secretary Larry Summers told Bloomberg on Friday that $2,000 stimulus checks for Americans would be a "pretty serious mistake." Summers, who was reportedly an adviser to President-elect Joe Biden's campaign, said boosting consumer spending was the wrong route to economic recovery. The checks could overheat the US economy, he told Bloomberg.

[KarlInOhio]

Then what about the $927 kazillion of pork in the bill?

[gundog]

Anyone holding Ruger or S&W stock is in for a bonus, methinks.

[eyedigress]

Is he an advisor to dementia joe or not?

This reportedly crap is just that.

[Crucial]

Overheat the economy?? Lol

[Pajamajan]

bttt

[Lurkinanloomin]

He probably knows it will mostly go to more guns and ammo.

[pepsionice]

This guy is just another PhD idiot. About half the people getting the check will try to square away rent issues or mortgage problems.

[kiryandil]

Yes, the “guaranteed paycheck” people have SO much skin in the game...

[StolarStorm]

Ha ha. My last stim check did. I’m just teaching my kid so nothing nefarious. If we do get another check, I’m thinking a nice shotgun would be on order (but dang, those are hard to find now)

[Lurkinanloomin]

teach your children well

[BenLurkin]

bttt

[LegendHasIt]

Overheat the economy?

Hell, if they gave every one a check for ten times that amount, it wouldn’t even begin to cover the wealth lost by ‘non essential’ small business owners and their employees have lost due to the politician’s Covidiocy lockdowns.

[ConjunctionJunction]

PhD = Piled higher and Deeper, in this case!

[JerryBlackwell]

Can we get the $400 billion in unmarked bills back from Iran instead? That should not over heat the economy.

[fluorescence]

Money to communist causes = good overheating. It’s only bad when it goes to the peasants who have been prevented by the state from working.

[TigerLikesRoosterNew]

As I understand it, economists fear depression far more than inflation. Business are failing and unemployment is rising. Furthermore, we have no idea when pols will relax lockdown measure. We are looking at a depression, not inflation.

[PGalt]

LOL Larry Dark Winter Summers