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Larry Summers Conflates Economics and Politics on Shrinking Government

Former Treasury Secretary Larry Summers claimed at a Wednesday lunch that the “Republican vow to significantly reduce the size of government is a foolish pipe dream” due to “structural economic realities.” What are these realities, according to Summers? An aging population will mean upward pressure on entitlement spending on unchanged policy. The rise in inequality requires government spending to “ameliorate” the consequences.
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