Thursday, August 6, 2009

Memo from Larry

Memo to Congress.
From: Larry Summers
Re: We fixed the Economy

Mr. Summers does not lack in confidence, yet this spin control is important.

We have traveled a remarkable distance over the past six months in pulling our economy
back from the brink of economic catastrophe. The wide-ranging efforts taken by the
Obama Administration, working closely with the 111th Congress – implementing the
Recovery Act, restoring confidence in the financial system, providing assistance for
responsible homeowners and pressing to get credit flowing to small businesses – have
helped pull the economy out of a nosedive, and have put us on a path toward a sustained
economic recovery. While we still have a long way go, we are far closer to that recovery
today than we were in January.

Where We Were
What We Have Done
Where We Are Now

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