THE BLOG
07/17/2009 04:39 pm ET | Updated May 25, 2011

Summers Upgrades Economy From 'Catastrophic' to 'Sucks'

White House economic adviser Lawrence Summers was upbeat about the U.S. economy today, saying that the economic situation is no longer catastrophic and "now it just sucks."

Mr. Summers told reporters, "It has taken a lot of effort and billions of dollars, but now we have finally brought the economy back from the brink to the point where it now is only sucking."

The adviser added that the White House had "driven the economy out of the ditch, and now it is on the side of the road, out of gas and unable to go anywhere - but that's an improvement."

Mr. Summers warned that "much more work needs to be done to come up with new metaphors." More here.

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