What Are the Risks?

TPM Reader JL follows up on my post about the size the recovery package. This is the logical risk of too large a package. What I referenced yesterday was what seemed most salient from Summer’s column: even Summers, as the spokesman for traditional deficit concern and austerity, himself only seemed able to make a half-hearted argument about building up inflationary pressures in the economy. And that to me was the most telling thing about it.