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DailyFinance is the media partner for Lawrence Summers' talk on the state of the American economy at the National Constitution Center on Thursday, May 27. DailyFinance readers can suggest questions for Mr. Summers before the talk in the comments section below, and see the event by live stream at 6:30 pm on Thursday.Lawrence Summers, Director of the White House's National Economic Council, will bring his case for the "son of the stimulus" to the National Constitution Center in Philadelphia Thursday evening. The question is whether members of Congress worried about the critical midterm Congressional elections will have to stomach for...

At a conference yesterday, White House National Economic Council Director Larry Summers repeated a superficial critique of the U.S. corporate income tax that we’ve heard often from the Obama administration. Politico notes that Summers suggested “that U.S. corporate tax rates are relatively low, despite complaints from U.S. corporations.” And they quote him: “If you look at taxes paid by corporations as a fraction of profits, they’re actually very low” because the U.S. tax code is replete with “evasion and avoidance.” The Obama team’s solution to the supposed problem is to pile more complex IRS rules and regulations on U.S. corporations...

WASHINGTON (Reuters) – The Obama administration has helped pull the U.S. economy back from the "abyss" with aggressive efforts to spur growth and stabilize financial markets, a top White House adviser said on Monday. Defending policies that Republicans have attacked as ineffective, National Economic Council Director Lawrence Summers argued measures put in place by the administration, including a $787 billion stimulus package, had helped turn back the deepest U.S. recession since the Great Depression. "Thanks largely to the Recovery Act, alongside an aggressive financial stabilization plan and a program to keep responsible homeowners in their homes, we have walked a...