Larry Summers: Team Obama's 'Truth Teller'

Clinton vet will have uncommon clout in new cabinet
By Jason Farago,  Newser Staff
Posted Nov 26, 2008 7:47 AM CST
Larry Summers: Team Obama's 'Truth Teller'
National Economic Council Chair-designate Lawrence Summers, left, is pictured behind President-elect Barack Obama during a news conference in Chicago, Monday, Nov. 24, 2008.   (AP Photo/Charles Dharapak)

After Timothy Geithner won his old job of treasury secretary, Larry Summers' return to government as director of the National Economic Council might seem like a consolation prize. On the contrary, writes David Leonhardt in the New York Times, Summers will have a prime role in the new administration: the "fearless truth teller" who will have to bring order to the proposed $600 billion stimulus package.

Unlike anyone else in the Democratic Party, Summers has spent the past years as a kind of shadow minister, "laying out in real time how a Democratic administration would have responded to the financial crisis." He often cites Japan's lost decade as proof that big, bold gestures are needed to avoid disaster. And while others in Obama's administration will work the levers of the economy, Summers may have a more important role: foil to Obama and Geithner at a moment when "the stakes are clearly huge."
(Read more Larry Summers stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.