Pour­ing gaso­line on the fire

The Washington Times Weekly - - Letters To The Editor -

The res­ig­na­tion of Pres­i­dent Obama’s cur­rent chair of eco­nomic ad­vis­ers, Aus­tan Gools­bee, sig­nals the near to­tal de­ser­tion of Mr. Obama’s orig­i­nal eco­nomic pol­icy team. Gone al­ready were eco­nomic ad­vis­ers Larry Sum­mers, Christina Romer and Jared Bern­stein as well as bud­get di­rec­tor Peter Orszag.

Mr. Obama has pur­sued mis­guided and failed fis­cal poli­cies: cash-for­clunkers, a tax credit for first-time home­buy­ers and a $830 bil­lion “stim­u­lus” pack­age. None had a last­ing im­pact on the econ­omy, with the “stim­u­lus” be­ing largely a hodge­podge of pay­ments to state and lo­cal gov­ern­ments.

Needed is a co­her­ent and fa­vor­able eco­nomic pol­icy, in­clud­ing deficit re­duc­tion and en­ti­tle­ment re­form. Mr. Obama in­her­ited an eco­nomic re­ces­sion and has made it worse. Jim Hart­man Berke­ley, Cal­i­for­nia

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