The ongoing task of debt management for the federal government will clearly be very different in the years ahead than it has been in the past, when debt was rapidly increasing, ... With 3.6 trillion in debt outstanding, even a 3 basis point (0.03 percentage point) reduction in federal borrowing costs will ultimately produce savings of more than 1 billion per year.
More Quotes from Lawrence Summers:
What is happening in India and China... The integration of the four-fifths of the world where people are poor with the one fifth of the world where people are rich, has the potential to be one of the three most important economic events in the last millennium, alongside the Renaissance and the Industrial Revolution.Lawrence Summers
Contagion has become very much a phenomenon, and it's a phenomenon of globalization.
Lawrence Summers
The Harvard Crimson did such a good job defending me when I was in trouble, I have full confidence that it can defend the institutional principles of the Ivy League.
Lawrence Summers
We afford ourselves the best chance of maintaining stability in the highly complex Pacific region by inviting China into the global system rather than keeping it out,
Lawrence Summers
Harvard's endowment is critical to the university's academic and financial aid programs and to its capacity for growth, ... the endowment will continue to be overseen and invested with the highest level of professionalism and expertise.
Lawrence Summers
If we can do those things, we have a chance to keep this expansion going. But this is not the time to take what (Federal Reserve) Chairman (Alan) Greenspan, what six Nobel prize-winning economists have said would be a very risky course with a massive tax cut. We're not going to let it happen, ... Face The Nation.
Lawrence Summers
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