Summers says stimulus plan on track despite job losses - NYTimes.com

WASHINGTON — President Obama’s top economic adviser, Lawrence H. Summers, acknowledged in a speech on Friday that unemployment and job losses were higher than the administration projected and would rise further this year even as the economy showed signs of recovery.

“This is obviously a major area of concern,” he said. But Mr. Summers, defending the president’s $787 billion stimulus package of last February against recent criticism from Republicans and some analysts, said rising job losses were “not a basis for concluding that the recovery act is falling short of its goals...”