11:31 AM, Nov 5, 2012 • By GEOFFREY NORMAN
Going on what he says to Justin Sink of the Hill, Mr. Summers and his boss, President Obama, were aces on employment, the stimulus, the automobile company bailouts, and possibly even the infield fly rule. So one wonders how he accounts for the famous graph which President Obama's economic team used to sell the stimulus plan. The one, you'll remember, that demonstrated how, with the stimulus plan, the unemployment rate would be held under 8 percent and by now, have fallen to a tolerable 5.2 percent.
We got the stimulus, of course, and ... well, everyone knows the rest.
Everyone, that is, except Larry Summers.
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