Summers letter defends stimulus - Real Time Economics - WSJ

The following is the full text of a letter sent to House Minority Leader John Boehner (R., Ohio) from National Economic Council Director Lawrence Summers:

President Obama appreciated receiving your letter regarding our nation’s economy and wanted to be sure that I provided you with a comprehensive response to your concerns. The President has said many times this year that his highest priority is creating jobs and restoring durable economic growth and fiscal responsibility to our nation. To understand the Administration’s economic approach, it is important to understand recent economic history. The most recent economic expansion was weak compared to previous expansions with respect to both job growth and our nation’s fiscal circumstances...