Politics in command on economic policy

Rosslyn Smith
During the first six months of the Obama administration there were stories about how difficult it was to fill the political slots at the Department of Treasury.  Some of this was over difficulties with the disclosures and background checks, but there was a sense that potential candidates were uneasy about a rotation through the Department of the Treasury during the Obama administration being a resume enhancer.  A couple of months later we began to hear voices of uneasiness -- strictly off the record -- that the President never seriously consulted his economic advisors, including  Lawrence Summers and Paul Volker.  Charles Gasparino in the New York Post: The guy who seemed like such a steady voice -- vowing to curb runaway spending and restore order to the banking system and the economy as a whole -- is instead so driven to achieve his big-government policy goals that he and his policy people are ignoring their own economic advisers on the severe economic costs...(Read Full Post)

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