Why Liberals Hate Larry Summers

His concern about deficits is stopping their Green New Deal.

By SHARE

Larry Summers, Team Obama's economic guru, made a ton money working at hedge fund D.E. Shaw. Now this is going to worry some liberals who were already concerned that the Obama economic team looks too much like the old Clinton economic team in its ties to Wall Street. These are same folks who have been grumbling for years that Clinton chucked his investment agenda to instead cut the deficit. They loathed the Bond Market Strategy of Clinton-Rubin-Greenspan. And they have been grumbling anew that concern about budget deficits is preventing the White House from proposing an even bigger economic stimulus/recovery page.  And Summers is a powerful voice for budget deficit sanity, so much so that he would like to kill all the Bush tax cuts ASAP if he had his druthers.