Lawrence Summers and Paul Krugman are two highly respected economists. Summers has written many important articles on macroeconomic policy and served as Secretary of the Treasury under President Clinton and Chairman of the National Economic Council under Obama. Krugman was awarded the Nobel Prize in Economics and now writes a widely read column for the New York Times. While both are considered on the left of the ideological spectrum and were enthusiastic supporters of President Biden, they disagree about the value of the $1.9 trillion spending program proposed by the Biden administration and recently passed by Congress. In February Princeton University hosted a debate between the Lawrence Summers and Paul Krugman. Watch the debate https://www.youtube.com/watch?v=EbZ3_LZxs54.

Summarize each side of the arguments and how they respond to each argument made by the other side.