Oct
30
2009
?Jobs Created or Saved? Is White House Fantasy
Caroline Baum
Bloomberg
October 30, 2009
- A d v e r t i s e m e n t
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.?
