David Frum’s new column for The Week nicely lays out what the chair of the White House Council of Economic Advisors really thinks of the administration’s economic policy:
Invited by a reporter Monday to criticize President Obama’s economic plans, the chair of the White House Council of Economic Advisers, Christina Romer, naturally brushed the question aside. “You want me to tell you what’s wrong with the fiscal stimulus package?” she said. “SO not going to do that!”
Too late! As it happens, the lecture Romer had just finished delivering at the Brookings Institute on Monday afternoon was criticism enough.
An expert on the Great Depression, Romer organized her lecture around six lessons distilled from the era. The administration she serves seems to be disregarding every one of them.
Read the rest for the lessons.