Summers: Return to Fiscal Health Crucial for U.S.

Monday, 13 Dec 2010 11:14 AM

 

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WASHINGTON — Outgoing White House economic adviser Larry Summers said that, although getting the U.S. recovery back on track is the immediate priority, it also is crucial to restore the country to fiscal health in the longer term.

Summers, speaking to the Economic Policy Institute think tank, said deficit spending was a tax on the U.S. future and praised the work of a panel that recommended ways to tackle the U.S. budget deficit.

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