We're determined, the President has said it many times, to do what's necessary for growth. The fact that it happened too late, it happened too slowly, but the fact that Congress is at last extending unemployment insurance, looks like it is on the verge of providing new credit and tax incentives for small business, it's starting to move on a broader range of programs to support energy, remembering the needs of state and local governments.
All of this will contribute to supporting and extending the momentum of growth. This is an economy we're watching very closely and we'll do what's necessary.
~ Larry Summers, director, National Economic Council, CNBC's Closing Bell, July 21st, 2010