...at least that is what I have gleaned from the trending story about Christina Romer's exit stage left to the National Press Club last night. Christina Romer was the chair of White House Council of Economic Advisers. Dana Milbank, WaPo:
It wasn't the food; it was the entertainment. Christina Romer, chairman of President Obama's Council of Economic Advisers, was giving what was billed as her "valedictory" before she returns to teach at Berkeley, and she used the swan song to establish four points, each more unnerving than the last:
She had no idea how bad the economic collapse would be. She still doesn't understand exactly why it was so bad. The response to the collapse was inadequate. And she doesn't have much of an idea about how to fix things.
What she did have was a binder full of scary descriptions and warnings, offered with a perma-smile and singsong delivery: "Terrible recession. . . . Incredibly searing. . . . Dramatically below trend. . . . Suffering terribly. . . . Risk of making high unemployment permanent. . . . Economic nightmare."
Funny, these words are perfectly applicable to the entire Obama machine that has no idea what they are doing and has been hell bent upon crippling our economy and nation.
Look a little closer in the WaPo article and you will find why Romer is no longer part of the White House economic team (other than the fact that they have unilaterally failed, failed, failed) :
And what to do about this? Here, Romer became uncharacteristically hesitant to make predictions. She suggested some "innovative, low-cost policies." But the examples she cited - a "national export initiative," new trade agreements and a "pragmatic approach to regulation" - aren't exactly blockbusters.
Romer - we don't know what we are doing, didn't know why we are doing what we are doing and shouldn't do what we are doing.
Cross posted to Left Coast Rebel