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Summers takes the long view

first_imgWhen former Harvard President Lawrence Summers went to Washington in 2009 to lead President Barack Obama’s National Economic Council, some economists were predicting a one-in-three chance of another Great Depression.Now, with economic collapse averted, a fresh crisis looms: a potential government shutdown. As Democrats and Republicans continue to butt heads over how to balance the 2011 federal budget, Summers jumped into the fray, offering his first public remarks at Harvard since returning to the University in January.“No one should be rushing to cut government spending or the deficit right now,” Summers said in a wide-ranging discussion at the John F. Kennedy Jr. Forum Tuesday  (April 5). With unemployment near 9 percent, America needs public-sector jobs, he added.“I don’t subscribe to the ‘sky is falling’ school,” said Summers, Charles W. Eliot University Professor at the Harvard Kennedy School (HKS) and Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business & Government. But just because America is at least a decade away from truly perilous debt, he said, doesn’t mean Washington should avoid the issue of bringing the national debt under control.“No one can look at the [economic] forecasts out five to 10 years and think that this is a situation that has any high probability of being stable,” he said.Moderated by David Gergen, director of the Center for Public Leadership at HKS, the evening’s conversation touched on everything from fixing the economy to the future of the American job market to Summers’ presence in not one, but two, Oscar-nominated films in the past year.Summers was quick to defend the Obama administration’s handling of the economy, including the controversial $787 billion stimulus package that Summers helped to engineer immediately after Obama took office.“I think the president made the right core choices,” Summers said, agreeing with Obama “that it was better to err on the side of doing too much than of doing too little.”The administration could have done a better job of getting the housing market back on its feet, he said. His economic team also miscalculated how much support it would be able to rally for the stimulus package. It had hoped it could return to Congress for more money down the road, but popular opinion and a Republican backlash kept that off the table.“I understand why many people express the concern that the president should show more leadership,” Summers said. But by moving slowly and building consensus on policies behind the scenes, Obama is trying to avoid “putting forward a plan that is more likely to constitute a basis for target practice than for followership” from his political adversaries.The biggest challenges the American economy faces aren’t rising debt or stagnant business, Summers said, but “increased inequality and decreased opportunity” for the middle class. Even after the economy recovers, one in six men in the United States between the ages of 26 and 54 will remain unemployed, and the gap between America’s wealthiest citizens and everyone else continues to grow.“The last two years saw the best performance of corporate profits [and] the stock market since the Second World War,” Summers said. The business community needs to realize that, regardless of those indicators, “their long-run success depends upon the success of the broader society.”While Summers has made a career of moving between academia and politics, there’s one role he appears to be done with: movie star. He was portrayed in the recent Facebook film “The Social Network” and shown in “Inside Job,” a critical documentary on Washington’s response to the financial crisis.“I liked ‘The Social Network’ better than I liked ‘Inside Job,’ ” he said, eliciting laughter from the audience. In the former film, Summers’ character berates Harvard students Cameron and Tyler Winklevoss for suggesting the beleaguered president intervene in their dispute with Facebook founder Mark Zuckerberg.Summers was told that the Winklevoss twins claimed the scene was accurate, with the exception that in real life Summers “wasn’t nearly that nice.”“I have read in one or two places that I can on occasion be arrogant. And if that is so, I probably was on the occasion of my visit with the Winkle-vi,” Summers said, echoing similar remarks he made last month. “But I decided that Harvard’s student discipline procedures were vexed enough without taking a role in intellectual property disputes.”last_img read more


Late fixture changes to U21 Tipperary games

first_imgThere’s been several changes to the U21 Football Fixtures this afternoonThe Mid U21 B football championship clash between Gurtnahoe & Upperchurch will proceed in Gurtnahoe at 2 but the game between Boherlahan & Moyne/Thurles Gaels has been moved to next Friday in Templetouhy at 7.30.Meanwhile there’s been a time change in the U21 A Losers group Semi Final: Drom Inch play Holycross Ballycahill in The Ragg at 12.30 now and not 2 as originally fixed. Extra time will be played in that one if necessary.And in South Tipp- the U21 A game between Clonmel Commercials and Moyle Rovers at Kilsheelan is  OFFlast_img


Artesia favored in Division III

first_imgArtesia, however, was not the only local team to qualify for the state tournament. After winning the CIF-SS Division I-A title with a 67-50 decision over Redondo, Los Alamitos earned the sixth seed in Division I. The Griffins (29-4) , who enter the tournament as one of the hottest teams in the state, having won 21 games in a row, will host San Bernardino’s Arroyo Valley (23-6) on Thursday. “I thought our draw was fair and I’m happy to have a home game,” Griffins coach Russ May said. “Obviously, any time you reach the state tournament, you have to play great teams in every round because just about everybody has won a championship. In order to win a state title, you have to win some big games and our division is tough. “Fairfax is the top seed, everybody knows about them, and Westchester is always good. Plus, I can tell you from playing them, that M.L. King is very dangerous.” LONG BEACH – By beating nationally ranked Mater Dei for the second time this season in the CIF Southern Section Division I-AA final over the weekend, the Artesia High boy’s basketball team proved it was the best team in the state. On Sunday, the CIF State committee agreed as the Pioneers (29-2) were awarded the No. 1 seed in Division III when the Southern Regional playoff pairings were announced. Artesia, which won the state championship in Division III last year, begins its quest to win another titled Thursday at 7 p.m. when it hosts San Diego’s St. Augustine (13-15) in a first-round game. “We’re the I-AA champions and the best team in the state, so we knew it was going to be hard for some other Division III team to be ranked ahead of us,” said Pioneers coach Loren Grover, whose team downed Mater Dei, 77-68, Saturday night for the school’s second straight CIF-SS championship. “We’re happy to be the No. 1 seed and have a home game.” center_img Even though Compton lost in the CIF-SS Division I-AA semifinals to Mater Dei last week, the Tarbabes were also rewarded with an invitation to the Division II field. Compton (25-6) earned the second seed behind Mater Dei (29-4) and will host San Diego Serra in a first-round game Thursday. The state finals will be held at the Arco Arena in Sacramento on the weekend of March 23. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more


Chelsea captain John Terry offered one-year contract extension

first_img John Terry: The Blues defender’s current deal expires in the summer 1 Chelsea captain John Terry has been offered a one-year contract extension, the club have announced.Terry is out of contract at the end of this season and in January said he would not be extending his stay.The Blues insisted an offer may be forthcoming, and it arrived this week.A Chelsea spokesperson said: “(Director) Marina Granovskaia and (chairman) Bruce Buck met with John and his agent this week and offered him a one-year contract extension.“With it coming so late in the season, this is a big decision for John and his family and it is something that they are now considering.”The 35-year-old defender has made 703 appearances since his debut in October 1998.Chelsea, who can finish ninth at best, play Leicester, their successors as champions, on Sunday at Stamford Bridge, but Terry is suspended following his dismissal at SunderlandChelsea sought to draw a line on the matter with the statement, allowing Terry to consider the offer and interim boss Guus Hiddink to focus on his final media conference ahead of his last game against Leicester.Antonio Conte will arrive as head coach at the conclusion of Italy’s involvement in this summer’s European Championship.“It’s good to have big players in a club who are big personalities,” Hiddink said.“I’m always in favour, generally, that players, ex-players – I’m not talking about John now – are having a lot of influence in the culture of the club.“Maybe, I don’t know when, in the future, it’s also for John.”Terry joined Chelsea as a 14-year-old and Hiddink lauded his longevity, having seen a recent photograph of a teenage Terry.“Twenty, 21 years at the club is huge,” Hiddink added.“That’s why they become legends. You must cherish those legends for the future as well.”READ MORE: Gary Cahill exclusive: John Terry is one of the best ever Premier League CBs, and what Chelsea’s players expect from Antonio ConteREAD MORE: ‘It’s the best moment of the season!’ Rival fans celebrate the end of John Terry’s Chelsea careerlast_img read more