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Larry Summers is INSANE!

The definition of insanity is doing the same thing over and over and expecting a different result.

Quote from Summer of Our Discontent:

“We averted Depression in 2008/2009 by acting decisively. Now we can avert a lost decade by recognizing economic reality,” he wrote.

Summers wrote that demand is likely to stay weak without the government taking steps to spur spending. He said the U.S. could have fallen into a double-dip recession already if not for the tax cuts and payroll tax holiday passed at the end of last year.

“The central irony of financial crisis is that while it is caused by too much confidence, borrowing and lending, and spending, it is resolved only by increases in confidence, borrowing and lending, and spending,” he wrote in both columns.

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