Summers: Cut Useless Health Care
April 20, 2009 • 11:34AM

On national television, Lawrence Summers, Director of the National Economic Council, and Austan Goolsbee, chief economist of the President's Economic Recovery Advisory Board, lied lamely about the administration's success in breaking the collapse, while foreshadowing the fascist austerity policy their "behavioral economist" clique wants to implement.

A CSPAN interviewer asked Goolsbee to specify, what is the "glimmer of hope" you are talking about? Gooslbee replied, "....We have stopped the free fall, in some areas."

His tongue flicking a bit, he calculatedly lied that the President's foreclosure-prevention program is "up and running"; the banks that participate in this program are going ahead with it; and the quasi-Federal Fannie Mae and Freddie Mac are "taking applications" for refinancing.

But the banks that suspended foreclosure have resumed pressing aggressively ahead with foreclosures, using as their excuse that the President has some program to help homeowners. J.P. Morgan Chase, Wells Fargo, Fannie Mae, and Freddie Mac have all announced that they have increased foreclosures, their moratorium having ended in March. U.S. foreclosure activity was 46% above the previous year.

NBC's "Meet the Press" interviewer told Summers that bankers who have received your billions in bailouts are now reporting profits of billions. He then asked, Aren't you worried the public will see this as "helping Wall Street, not Main Street?"

Summers said, "No, not really." He then burped softly, and a saliva-covered piece of Main Street protruded slightly from his fat mouth.

On the overall meltdown, Summers said "the economy was in vertical" [sic] but now it is "a mixed picture."

Pressed about deficit reduction, Summers stressed health-care cost cutting, lying ominously on the underlying theme of austerity. He said surveys on procedures such as tonsillectomies and hysterectomies show that in some areas of the country a procedure is done three times as much in some other areas. Thus these procedures are without benefit. He said the President and OMB Director Peter Orszag (part of Summers' behavioralist clique) are pursuing health-care cost reductions which they have identified as "game-changers."