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I can’t wait to read the book!

06 Aug

According to National Journal Christina Romer has decided to call it quits.

“She has been frustrated,” a source with insight into the WH economics team said. “She doesn’t feel that she has a direct line to the president. She would be giving different advice than Larry Summers [director of the National Economic Council], who does have a direct line to the president.”

“She is ostensibly the chief economic adviser, but she doesn’t seem to be playing that role,” the source said. The WH has been pounded for its faulty forecast that unemployment would not top 8% after its economic stimulus proposal passed.

http://hotlineoncall.nationaljournal.com/archives/2010/08/romer_to_leave.php

Prior to joining the Obama regime Romer and her husband David published a paper espousing that if stimulus is necessary during a recession, it is much better to do it with monetary policy rather than fiscal because fiscal stimulus is slow to get through the pipeline and it tends to be ineffective. The 847 billion dollar failed stimulus has provided Romer with a steaming pile of evidence to support her premise.

I don’t think Ms. Romer is leaving out of frustration; I suspect she has a rich book  deal in her future along with a slew of scholarly peer reviewed papers examing the anatomy of this failed recovery.

 
3 Comments

Posted by on August 6, 2010 in politics

 

3 responses to “I can’t wait to read the book!

  1. Pedro

    August 6, 2010 at 2:02 am

    Damn! Just when I thought it was safe to go back to my broker at AIG. This isn’t good. We need another stimulus fast. And some Wall Street regulation by God. Or by Allah, whichever suits your upbringing.

     
  2. Saddlesore

    August 6, 2010 at 5:14 pm

    Good riddance. Maybe the rest of the economic team will quit, too. The only problem is that they actually think they are doing a good job.

    It must be nice to be a liberal…I guess it means never having to face up to reality no matter how many lives your economic policies destroy.

     

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