‘Jobs Created or Saved’ Is White House Fantasy: Caroline Baum - Bloomberg.com:
Oct. 28 (Bloomberg) -- Heresy, thy name is Christina Romer.
Last week, the chairman of President Barack Obama’s Council of Economic Advisers -- a position that carried the title “chief economist” until Larry Summers took up residence in the White House -- testified to the Joint Economic Committee on the economic crisis and the efficacy of the policy response.
Here’s the executive summary in case you missed it:
The crisis: “Inherited.”
The economy: “In terrible shape” (the inherited one).
The shocks to the system: “Larger than those that precipitated the Great Depression.”
The policy response: “Strong and timely.”"
Friday, October 30, 2009
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