Larry Lindsey (left), the former director of the National Economic Council under George W. Bush, says he's willing to bet $60,000 with liberal economists Paul Krugman (middle) and Larry Summers (right) that their doomsday predictions about President Trump?s tax reform proposals will turn out to be wrong. (Reuters)
A former top adviser to then-President George W. Bush is daring liberal economists slamming Republican tax plans in the op-ed pages of the New York Times and Washington Post to put some real money on the line.
Larry Lindsey, former director of the National Economic Council under Bush, says he's willing to bet $60,000 with Larry Summers and Paul Krugman that their doomsday predictions on President Trump?s tax overhaul turn out to be wrong.
?Rather than go for academic name-calling, I propose a more market-oriented approach: a wager,? Lindsey wrote in a memo to clients, which was obtained by Fox News.
Asked about the wager during a Thursday appearance on CNBC, Larry Summers wouldn't take the bet. (REUTERS/Joshua Roberts)
In the memo, Lindsey sought to rebut Summers and Krugman?s recent criticism of the GOP plan.
Summers is a former director of the National Economic Council under former President Barack Obama. Krugman is a liberal columnist for The New York Times.
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Makes you wonder who is telling the truth and who is slanting for political reasons. At least Lindsey was willing to put up some serious money and Larry Summers backed out taking the bet.
RELH
'They?re going to lose. And they know it.'
- Larry Lindsey, Bush economic adviser
Disputing Summers and Krugman?s gloomy predictions about what would happen if the tax package is passed, Lindsey wrote that he believes economic growth will be ?far higher? under Trump than Obama, income inequality will decline and ?real wages for ordinary workers? will rise.