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Summers to leave White House post after midterm elections
The Hill ^ | 9-21-10 | Sam Youngman and Silla Brush

Posted on 09/21/2010 9:50:35 PM PDT by Justaham

President Obama’s top economic adviser, Larry Summers, will step down from his post after the November elections, the White House announced Tuesday.

Summers will be the third high-ranking economic official to leave the Obama administration following the departures of Peter Orszag, former head of the Office of Management and Budget, and Christina Romer, former head of the Council of Economic Advisers.

“I will always be grateful that at a time of great peril for our country, a man of Larry’s brilliance, experience and judgment was willing to answer the call and lead our economic team,” Obama said on Tuesday.

Summers, who previously served as Treasury secretary during the Clinton administration, will return to teaching at Harvard University at the end of the year.

Summers was one of the main architects of the Obama administration’s roughly $800 billion effort to boost the economy with new spending projects and tax cuts. He also helped oversee the bailout of the auto industry and new financial regulations enacted by Obama in July.

“I will miss working with the president and his team on the daily challenges of economic policymaking,” Summers said in a statement.

(Excerpt) Read more at thehill.com ...


TOPICS: Front Page News; Government
KEYWORDS:
The Rats are jumping ship!
1 posted on 09/21/2010 9:50:40 PM PDT by Justaham
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To: Justaham

My guess is that Borak will select another WISE leader to replace Summers - Dennis Kucinich.


2 posted on 09/21/2010 9:55:28 PM PDT by Rembrandt (.. AND the donkey you rode in on.)
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To: Rembrandt

“Summers will be the third high-ranking economic official to leave the Obama administration following the departures of Peter Orszag, former head of the Office of Management and Budget, and Christina Romer, former head of the Council of Economic Advisers. “

He did his job perfectly. Now he gets to retire fully tenured back at Harvard.


3 posted on 09/21/2010 10:00:38 PM PDT by EQAndyBuzz (Remember March 23, 1775. Remember March 23, 2010)
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To: Justaham

Is this the Summers of Recovery that Rimshot Joe told us about?


4 posted on 09/21/2010 10:04:11 PM PDT by FlingWingFlyer (I don't know which is dumber. A pert or an expert.)
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To: Justaham

Summers made a lot of great contacts in the USG and the Federal Reserve. He’ll be sure to phone them up to get the inside track once he gets back in the hedge fund business


5 posted on 09/21/2010 10:07:10 PM PDT by dennisw (I a)
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To: Justaham

The Obama dictatorship is taking on water fast.


6 posted on 09/21/2010 10:12:25 PM PDT by Jack Hammer
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To: Justaham

Obama’s new economic team: Curly, Moe, and Larry


7 posted on 09/21/2010 10:14:49 PM PDT by Enchante ("The great enemy of clear language is insincerity." -- George Orwell --)
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To: Justaham

Whoever replaces him will certainly come to the conclusion we need higher taxes and more stimulus $ spent


8 posted on 09/21/2010 10:18:41 PM PDT by woofie
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To: Justaham

My guess is Paul Krugman, but the Economy is doing so well that 3 of his 4 Economic top advisors have left leaving Timmy Guettner the only one still standing.


9 posted on 09/21/2010 10:24:38 PM PDT by Steelers6
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To: Rembrandt
I'm guessing that high on the short list for Summers' replacement are Randy Quaid and the "Question Mark Guy".

.

10 posted on 09/21/2010 10:40:43 PM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: Justaham

There are student minds back at Harvard that need to be poisoned with leftist claptrap and he’s the man for the job.


11 posted on 09/22/2010 1:11:39 AM PDT by Iron Munro (I prayed: "O Lord make my enemies ridiculous." And http://www.kiGod granted it - He sent the Obamas.)
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To: EQAndyBuzz
the third high-ranking economic official

Leaving before the Recovery to Nowhere gets worse, so they don't take the blame. Democrat economic policies are awful.
12 posted on 09/22/2010 3:23:10 AM PDT by Son House (Democrats Starve The Private Sector, Yet Expect The Economy To Grow. The Recovery to Nowhere!)
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To: Justaham
Obama has economic advisers? Who knew. I thought he used kids who failed the audition for “ Are You Smarter Than A Fifth Grader? “ At least that the end result of his plans.
13 posted on 09/22/2010 6:08:13 AM PDT by Hillarys Gate Cult
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