Today, Christina Romer, chairman of President Obama’s Council of Economic Advisers, gave her farewell speech before returning to Berkley to teach. In that speech we learn that she still doesn’t understand exactly “why it was so bad”. It’s good that Romer is returning to academia because she wouldn’t be hired in the private sector. In places where people actually have to create wealth, results matter. Romer helped develop a policy where unemployment reached nearly 10% and her excuse was “almost all analysts were surprised by the violent reaction.” This is an example of the Obama team that was billed as...