Obama’s Chief Economist Bails Out After Only 10 Months
Posted by Jim Hoft on Tuesday, June 7, 2011, 6:56 AM
It’s that bad.
Obama’s Chief Economic Adviser Austan Goolsbee quit his post after only 10 months.
Nile Gardiner at The Telegraph reported:
If last week wasn’t bad enough for President Obama with the release of a series of dire economic reports, this week is looking even worse, kicking off with the resignation on Monday evening of his chief economist Austan Goolsbee. On Friday Goolsbee struggled to explain an unexpected rise in unemployment figures, comically describing them as a “bump in the road”, hardly reassuring news to the nearly 14 million Americans who are now out of work.
After the announcement, Barack Obama paid tribute to his close friend and soon to be former adviser, with a surreal claim that his administration is actually generating “millions of jobs” at a time when the unemployment lines are actually growing.
Over the past several years, he has helped steer our country out of the worst economic crisis since the Great Depression. And although there is still much work ahead, his insights and counsel have helped lead us toward an economy that is growing and creating millions of jobs.
It’s not hard to see why Goolsbee is leaving the administration to return to the safer confines of the University of Chicago School of Business, where he taught for 14 years. The economic data on the US economy is relentlessly bad, from rising jobless numbers and declining consumer confidence to a hugely depressed housing market.
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Published May 21, 2012 at 12:19 am - 39 Comments
dunce commented:
If conservatives are former liberals mugged by reality, and people change their minds when the facts change or they learn what they have long believed just is not so, then we may wind up with tenured conservative professors. I mean “just’ both ways.
Kitty commented:
Those who can, do; those who can’t, teach.
Atlanta Media Guy commented:
What’s amazing? This White House and Propmterbama think they are doing a great job! November 2012 can’t come soon enough!
TMI commented:
The classroom is the only place where Keynesian economics works.
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Black Sabbath commented:
Goolsbee now joins Romer in the lucrative university market where your ideas don’t have to work and you don’t have to have achieved success with them, you just have to sound good and be liked by other Liberals.
burt commented:
Not even Keynes believed in Keynesian economics. He knew it was a scam, but he was living the good life and he knew he would be dead long before the waste hit the impeller.
SSBN 627(B) commented:
Ah, yes, back to the hallowed halls of ivory, where theoretical terms such as ‘trillion’ have no real-world impact and actual people aren’t completely destroyed by classroom high-jinx.
jennifer commented:
Recall the old adage: Those who can, do. Those who can’t, teach. And he’s going back to teaching!!
Andreas K. commented:
When a ship is sinking rats do the only reasonable thing: they bug out.
Old One commented:
Another rat deserting the sinking ship of obacommunism.
befuddled commented:
#5 June 7, 2011 at 12:00 pm
Black Sabbath commented:
Goolsbee now joins Romer in the lucrative university market where your ideas don’t have to work and you don’t have to have achieved success with them, you just have to sound good and be liked by other Liberals.
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this is why people like katie couric keeps getting a job.
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socialism: the good old dine and dash.
Blacque Jacques Shellacque commented:
“Barack Obama is floundering in a sea of bad news…”
He only needs to look into a mirror to find the main culprit.
ponderon commented:
rats are fleeing the sinking ship……………
Molon Lobe commented:
Did this cretin ever actually work at an honest job? Look at the disaster he has created along with the Big Zero.
tommy mc donnell commented:
the guy ran for president for two years saying he was for “hope and change.” and for two years nobody in the entire media asked him could you be a little more specific.
K~Bob commented:
Obama’s spin doctors may be lefty loyalists, but they aren’t totally stoopid. They know that his Administration is imploding like a busted souffle in a firepit. And trying to spin this disaster is much, much harder than the proverbial, “polishing a turd,” jobs they get.