Posted on 08/05/2010 5:34:33 PM PDT by C19fan
National Journal's Victor will have the scoop in tomorrow's edition of the National Journal magazine that Obama economic adviser Christina Romer is quitting the post. It all stems from her feeling -- despite her title as chairwoman of the President's Council of Economic Advisers -- that Larry Summers has more influence with the president.
(Excerpt) Read more at firstread.msnbc.msn.com ...
Judging by her looks, she could be 0bama’s next SCOTUS pick. I think if she’s radical enough, she could be a contender!
“The most extensive research on tax multipliers is found in a paper written at the University of California Berkeley entitled The Macroeconomic Effects of Tax Changes: Estimates Based on a new Measure of Fiscal Shocks, by Christina D. and David H. Romer (March 2007). (Christina Romer now chairs the president’s Council of Economic Advisors). This study found that the tax multiplier is 3, meaning that each dollar rise in taxes will reduce private spending by $3.”
“This study found that the tax multiplier is 3, meaning that each dollar rise in taxes will reduce private spending by $3.”
Conversely, each dollar decrease in taxes will increase private spending by $3. If you read the paper, the more eye-popping figure is that each 1% increase in taxes reduces investment by 12.6%!!! Yet here we have an administration fully prepared to raise marginal tax rates on the highest income taxpayers by more than 10% even while insisting this will have no adverse effects on investment.
It makes you wonder whether Obama used a “keep your enemies close” strategy in selecting Romer. That is, had he not flattered her by putting her at CEA, she might have been running around using her research to argue against his plans to raise taxes on the rich and/or plans to add a VAT or plans generally to take taxes from 18% of GDP to more like 25% of GDP to pay for the laundry list of progressive “goodies” Obama planned to enact.
On a related point, Romer’s lust for visibility/celebrity led her to keep her mouth shut as the administration pursued policies that her own research showed would be very destructive to the economy. She could rationalize doing this so long as she thought by doing so, she could bend Obama’s ear. But now that she’s realized she can’t, perhaps she feels guilty about her opting to be an intellectual sell-out. It would be great if she returned to Berkeley and started freely divulging how the Obama administration had repeatedly ignored her concerns about raising taxes etc.
I believe that is Peter R. Orszag, former Director of the Office of Management and Budget who has also left the Obama Administration.
-Barack Hussein Obama
Why would a Communist leader have advisors anyway?
They only need hatchet men.
“Now is not the time for profits”
Barry Soetoro, Americas 1st Communist Indonesian president.
We are living in Larry Summers' economy. Who would want to shine that a$$hole's shoes?
I have heard her in pressers a couple of times and while she may be knowledgeable her presentation sucks. I can't imagine taking an econ class from her it must be very painful.
I hope that you are right.
That's right. I heard Larry kudlow and Bill Bennet wonder aloud several times about why she ever joined the administration. They both claimed to know her and to know that she is principally opposed to many of the goals of the administration. Who knows?
From a recent WSJ article:
“The president does not say that economists agree that the high future taxes to finance the stimulus will hurt the economy. (The University of Chicago’s Harald Uhlig estimates $3.40 of lost output for every dollar of government spending.) Either the president is not being told of serious alternative viewpoints, or serious viewpoints are defined as only those that support his position. In either case, he is being ill-served by his staff.”
http://online.wsj.com/article/SB10001424052748703724104575378751776758256.html
Ugh, why do these facking liberals (esp. the women) have such a dead look in their eyes.
Larry Kudlow quoted this on his show last week.
I guess when you are told to pick cotton in Death Valley and you point out the absurdity, the only thing left to do is leave the valley.
I havn’t time to google it and provide all the info, but if you bothered to research it, this woman is the ONLY administration economic team member that has told the truth about our economic situation at any point.
In testimony before congressional committees and in other venues, when questioned she has answered more truthfully than anyone else. Many times it took our breath away (those of us who bothered to notice) that she had the cajones to say WHAT?!
I’m surprised she didn’t leave sooner and not a bit surprised that she did leave. She KNOWS better than what the rest of them are saying and has actually tried to be an economist and not a political hack.
This thread is an abomination of ugliness in regard to ignorant and indefensibly cruel, personal comments directed towards this person.
I must go do some stuff, but first I need to shower and wash the crud of this brain-dead thread off of me.
Obama has economic advisers?
Yeah, “handsome” little Timmy, whose publisher brother got him on the list. Gag! Talk about taking nepotism a leap too far!
What’s that I hear in the WH ??? Could it be Obama singin’:
“Dump, dump, dump - I threw her under the bus ...”
“Dump, dump, dump - I threw her under the bus ...”
[Sung to “Another One Bites The Dust”]
ping
If she had convinced them to cut taxes, it wouldn’t have made a hill of beans worth of difference unless they also CUT GOVERNMENT in accordance. If they could be convinced to do that... well, then, they’d be Tea People and not Communists.
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