Boom, Bust, or What? Larry Summers and Glenn Hubbard Square Off on Our Economic Future. Planet Money's Adam Davidson profiles Glenn Hubbard (chair of the Council of Economic Advisors under George W. Bush, and advisor to Romney) and Lawrence Summers (Treasury Secretary under Clinton, and director of the National Economic Council under Obama). After talking to them one-on-one for several months, he gets them together in the same room.
Hubbard suggested turning Social Security and Medicare into smaller programs that help “the least well off among us.” With smaller social-insurance programs, the government can prevent tax increases and shrink the debt burden. That, he said, would lead to broad economic growth.[more inside]
"There are half a dozen [economic] issues today, each one of which is as important as the most important issue at the beginning of most presidential terms." Larry Summers became so well-known during his brief and contentious tenure as President of Harvard that it's easy to forget about his real job, as a much-lauded academic economist with a history of real-world service at the World Bank and in the Clinton Administration. In this month's Harvard Magazine, he summarizes his view of the economy (grim) and what the next president is going to have to do about it (a lot.)