DeFazio Smacks Larry Summers for Being “Anti-Infrastructure”
Posted in: Financial Crisis
This is how it’s done. Speaking of Obama’s economic plan, Oregon Rep. Peter DeFazio talks about the real obstacles, economists who got it wrong in the first place and are still wrong:
I think he’s ill-advised by Larry Summers. Larry Summers hates infrastructure.
And some of these other economists — they were very much part of creating the problem, now they’re going to solve the problem? And they don’t like infrastructure. So they want to have a consumer driven recovery.
We need an investment and productivity driven recovery for this country — a long term recovery. When we borrowing from future generations — we should invest in future generations.
Rachel asks if it’s Summers who is giving instructions on what to do:
Larry is pretty much on record as being anti-infrastructure until very recently when he seems to have had a conversion — slightly, but not enough.
Rachel points out that Obama speaks highly of infrastructure, how can he have an adviser that is against it?
[Obama] needs to know it and that’s why I’m speaking out. I’m hearing a little bit of flack, but I’m speaking out because I think the President is with us.