Larry Summers

The Trump-era project of economic and geopolitical nationalism (analogous to Juan Perón–style populism), including its Doge reforms and tariff-driven realignment, will ultimately end in disastrous failure as a governing model for the United States, even though it addresses some real concerns. Over the long run it will not be judged a successful approach to governing.

“my best judgment is that this project is going to end in disastrous failure, despite having put its finger on some important concerns and issues.” View on YouTube

Net fiscal impact of the Doge initiative on the IRS and federal tax administration will be negative: the reduction in tax revenue caused by degrading the tax collection system will exceed the budgetary savings Doge achieves elsewhere, thereby increasing the federal deficit relative to a counterfactual without those IRS-related cuts.

“My belief is that the revenue loss from the Doge's destruction of a significant part of the functioning of our nation's tax collection system is likely to exceed, in terms of contributing more to the deficit than any savings that you successfully identified.” View on YouTube