lunes, 27 de julio de 2009

Larry Summers unmasked?

I really don't have an opinion about this stuff"it's too complicated for one without basic economics knowledge. Therefore anyone can convince me... On the other hand, this looks pretty damning...
In a speech last week, Larry Summers said:
Without comprehensive healthcare reform, there is little prospect of convincing markets that the long-term growth in Federal debt is under control or of convincing businesses that the United States is the most competitive place for them to invest.
This statement, while seemingly sensible to some laymen, is actually inconsistent with standard economic analysis, such as that offered by the Congressional Budget Office. The CBO tells us that the healthcare bills being considered in Congress will increase rather than decrease health spending and so will hardly assure markets the Federal debt is under control. The CBO also tells us that health spending does not raise problems of international competitiveness. My understanding is that the CBO analysis of these subjects is not at all controversial among professional economists.
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