Lawrence Summers Costs Quotations

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.

Growing demand and growing markets and networks will tend to reduce costs and raise efficiency, making successful economic management all the more important,

As long as we keep our fundamentals strong...the dollar (and) U.S. borrowing costs will do just fine.

The inflation outlook does remain contained and unit labor costs (what it costs companies to employ their workers) continue to reflect he absence of inflation pressures,