WaPo: White House chief economic adviser clueless about economic collapse

In the Washington Post this morning, Dana Milbank files a grim report from the farewell luncheon of the White House’s chief economic adviser:

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.”

Anybody want dessert?

Last month the Examiner editorial page noted that Romer’s departure was a good signal that it was “Time to admit Obamanomics has failed.”

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

U.S. Attorney David Anderson announces federal firearms charges against two men for their roles in a March 2019 shooting outside the Fillmore Heritage Center in a news conference alongside SFPD staff at the Phillip Burton Federal Building on Thursday, Jan. 9, 2020. (Kevin N. Hume/S.F. Examiner)
Departing U.S. attorney predicts corruption probe will continue

David Anderson shook up City Hall as top federal prosecutor

Board of Supervisors President Shamann Walton, a former school board member, has been asked to help secure an agreement between the school district and teacher’s union. <ins>(Kevin N. Hume/S.F. Examiner)</ins>
 <ins></ins>
Supervisor Walton tapped to mediate teacher contract talks

District and union at odds over hours in-person students should be in the classroom

California is set to receive supplies of the Johnson & Johnson vaccine, which is still under review by the U.S. Food and Drug Administration. (Courtesy photo)
California could receive 380K doses of new J&J COVID vaccine next week

California could receive 380,300 doses of the new Johnson & Johnson vaccine… Continue reading

Disability advocates protested outside the home of San Francisco Health Officer Tomas Aragon. (Courtesy Brooke Anderson)
Vaccine rollout plan for people with disabilities remains deeply flawed

On February 13, disability activists paid a visit to the house of… Continue reading

A Bay Area Concrete Recycling facility that opened on PG&E property in 2019. Former PG&E employees have been accused of accepting bribes from Bay Area Concrete. (Courtesy of Bay Area Concrete Recycling via ProPublica)
Lawsuit reveals new allegations against PG&E contractor accused of fraud

By Scott Morris Bay City News Foundation Utility giant Pacific Gas &… Continue reading

Most Read