[See NewsBusters for more.] It turns out that it is not just Republicans who think the $1.9 trillion price tag on President Biden's COVID relief package is too high, but also former director of the National Economic Council under Obama and Clinton Treasury Secretary Lawrence Summers. On Friday's MSNBC Live host Katy Tur and Politico's chief economic correspondent Ben White wondered how someone like Summers could take such a position while people are suffering.
Summers' argument, made in a Washington Post op-ed, can be summarized by two points: it is wrong to compare the current situation to the recession in 2009 and that therefore it is not wise to spend nearly $2 trillion considering Biden also wants to spend massive amounts of money on everything from infrastructure to education. Summers' criticisms led Tur to ask White to, "Talk to me now about the push back we're seeing from this White House on somebody who was a big part of the economic strategy the last time Joe Biden was in office."