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View Full Version : Economics Why did another Obama economic advisor quit ?


Chief Henry
09-22-2010, 08:59 AM
Your thoughts and opinions on why ANOTHER Obama Economic advisor is leaving the white house with his tail between his legs(so to speak) ???

Chief Henry
09-22-2010, 09:03 AM
Could it be that Harvard was so desperate for his teaching skills that they made him an offer he couldn't refuse ??? Or could it be that Obama needed some escape goat and this announcement will provide some cover for the next 48 hours news cycle. Or is it something else ?

Amnorix
09-22-2010, 09:07 AM
They are high turnover, high burnout rate jobs, and the recession has proved extremely stubborn. The stimulus package hasn't done as much stimulating as one could hope.

Bush also had high turnover in his economic team during his first administration. Of course, you guys will want to paint it as the "obviously failed policies", etc. Go for it. I guess Bush's policies failed too.

:shrug:

Chief Henry
09-22-2010, 09:09 AM
With Summers stepping down, and the left all hot and bothered about don't ask -don't tell. The abysmal economic policies of Obama are not being discussed and Bob Woodwards book are not being discussed ... :hmmm:

ROYC75
09-22-2010, 09:24 AM
With Summers stepping down, and the left all hot and bothered about don't ask -don't tell. The abysmal economic policies of Obama are not being discussed and Bob Woodwards book are not being discussed ... :hmmm:

The latest Woodward book is suppose to be a telling bombshell of the in house fighting between the administration.

So much for being a community organizer.

Chief Henry
09-22-2010, 09:39 AM
They are high turnover, high burnout rate jobs, and the recession has proved extremely stubborn. The stimulus package hasn't done as much stimulating as one could hope.

Bush also had high turnover in his economic team during his first administration. Of course, you guys will want to paint it as the "obviously failed policies", etc. Go for it. I guess Bush's policies failed too.

:shrug:



Did President Bush have three economic advisors quit with in the first 18 months ?

Lets see who's all bailed out or has been pushed out:

Peter Orsazag....Obama's Budget Director
Christina Romer...Obama's Chairperson of the White House Council on
Economics
Larry Summers..."the architect" of Obama's dismal Economic Policy

Donger
09-22-2010, 09:45 AM
"Cleaning up Bush's mess is hard work."

FD
09-22-2010, 09:59 AM
Did President Bush have three economic advisors quit with in the first 18 months ?


Lawrence Lindsey (NEC Director), Glenn Hubbard (CEA Chair) and Paul O'Neill (Treasury Secretary) all left before or right after the 2002 midterm elections. This is pretty common.

Its too bad to see Summers go, he's undoubtedly one of the top economic minds out there. Unfortunately he's known for butting heads with pretty much everybody, so they may be better off without him.

Chief Henry
09-22-2010, 10:05 AM
Lawrence Lindsey (NEC Director), Glenn Hubbard (CEA Chair) and Paul O'Neill (Treasury Secretary) all left before or right after the 2002 midterm elections. This is pretty common.

Its too bad to see Summers go, he's undoubtedly one of the top economic minds out there. Unfortunately he's known for butting heads with pretty much everybody, so they may be better off without him.

Summers is a top economic mind ? It sure doesn't look like it right know.

ROYC75
09-22-2010, 10:34 AM
It would appear that the SS Obama is sinking. Soon, Rahm will be leaving as well.

Chief Henry
09-22-2010, 10:44 AM
It would appear that the SS Obama is sinking. Soon, Rahm will be leaving as well.

:thumb:

Amnorix
09-22-2010, 12:02 PM
Did President Bush have three economic advisors quit with in the first 18 months ?

Lets see who's all bailed out or has been pushed out:

Peter Orsazag....Obama's Budget Director
Christina Romer...Obama's Chairperson of the White House Council on
Economics
Larry Summers..."the architect" of Obama's dismal Economic Policy

Paul O'Neill was Secretary of Treasury for 2 years, was fired, and then published a book saying Bush's economic policies were irresponsible. Larry Lindsey was chair of the economic council (same as Summers) and left after less than 2 years also. Mitch Daniels was OMB director for 2-1/2 years, and Glenn Hubbard, chair of the Council of Economic Advisors, lasted barely two years also.

So yeah, it's about the same, especially when you adjust for the fact that the .com bubble was about 1/10th of the fiasco that the housing bubble was.

Amnorix
09-22-2010, 12:04 PM
It would appear that the SS Obama is sinking. Soon, Rahm will be leaving as well.


If I were a Republican I might wonder if you cheer when our boys are shot in Afghanistan or something. Luckily, I'm not stupid enough to wonder if that's the case, because I know it isn't.

But, whenever we next have a Republican President, perhaps you can keep in mind that denigrating the opposing party's presidential administration isn't anti-American.

Food for thought.

Amnorix
09-22-2010, 12:04 PM
"Cleaning up Bush's mess is hard work."

Good point.





:p

vailpass
09-22-2010, 12:15 PM
They are high turnover, high burnout rate jobs, and the recession has proved extremely stubborn. The stimulus package hasn't done as much stimulating as one could hope.

Bush also had high turnover in his economic team during his first administration. Of course, you guys will want to paint it as the "obviously failed policies", etc. Go for it. I guess Bush's policies failed too.

:shrug:

2 years into it and we "Bush did it first" is still the response of choice? Bet you had higher hopes than this for obama.

ROYC75
09-22-2010, 12:19 PM
If I were a Republican I might wonder if you cheer when our boys are shot in Afghanistan or something. Luckily, I'm not stupid enough to wonder if that's the case, because I know it isn't.

But, whenever we next have a Republican President, perhaps you can keep in mind that denigrating the opposing party's presidential administration isn't anti-American.

Food for thought.


Don't blame me because he picked bad staff members. Obama was free to choose who he wanted, of which he did. Of which goes along with who he associated with before his presidency.

You hang around with or choose people with baggage or the inability to do their job properly, you suffer the consequences and you get what you pay for.

Moonbats, Obots and the Liberal left got what they wanted ...... so if they complain, all they need to do is just go look into the mirror to see whats looking at them and where their problem started.

fan4ever
09-22-2010, 12:19 PM
Your thoughts and opinions on why ANOTHER Obama Economic advisor is leaving the white house with his tail between his legs(so to speak) ???

Because the real world is harrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrd.

fan4ever
09-22-2010, 12:30 PM
If I were a Republican I might wonder if you cheer when our boys are shot in Afghanistan or something. Luckily, I'm not stupid enough to wonder if that's the case, because I know it isn't.

But, whenever we next have a Republican President, perhaps you can keep in mind that denigrating the opposing party's presidential administration isn't anti-American.

Food for thought.

I know this isn't the thrust of your point, but Republicans / Conservatives practically always support our troops; not just when it's politically advantageous to do so.

I think you'd be hard pressed to find any clips of Republicans making statements about our soldiers in Afghanistan like Kerry and others made stating our troops are terrorizing / murdering innocent citizens. I would be ashamed to see them resort to tactics like keeping a body count like the media was so generous in doing every night on television while Bush was in the White House just for political posturing.

alpha_omega
09-22-2010, 01:41 PM
2 years into it and we "Bush did it first" is still the response of choice?

Surprised?
Justifying bad behavior by pointing out other bad behavior.

FD
09-22-2010, 02:27 PM
Surprised?
Justifying bad behavior by pointing out other bad behavior.

What bad behavior? Turnover in high-level positions is high and always has been. Why is this bad?

vailpass
09-22-2010, 03:13 PM
What bad behavior? Turnover in high-level positions is high and always has been. Why is this bad?

Yours would have been a much better response. Notice the lack of the phrase "Bush did it too"?

KC Dan
09-22-2010, 03:15 PM
What bad behavior? Turnover in high-level positions is high and always has been. Why is this bad?Not bad at all. I think this is fabulous as long as puts people in those places that do not betray their actual long-held economic thoughts for this stimulus-Keynesian bull&%$ and actually do something with long-term stimulative effects

Amnorix
09-22-2010, 03:18 PM
2 years into it and we "Bush did it first" is still the response of choice? Bet you had higher hopes than this for obama.

Actually, the average shelf life for these guys is about 2-3 years. I looked briefly at the history, and guys lasting 4 years are by far the exception, not the rule. Those are high burnout positions.

Can't say I ever had higher or lower hopes on how long his economic advisors lasted. I hoped they'd do a good job while they held the position, and that's about it.

Amnorix
09-22-2010, 03:26 PM
I know this isn't the thrust of your point, but Republicans / Conservatives practically always support our troops; not just when it's politically advantageous to do so.

So do Democrats. We just don't support all of THE POLITICAL DECISIONS MADE ABOUT HOW TO USE THEM.

FD
09-22-2010, 03:28 PM
Yours would have been a much better response. Notice the lack of the phrase "Bush did it too"?

I think the whole "Bush did it too" phenomenon is just a matter of intellectual laziness. Usually this defense is employed when some headline is posted from an extremist website citing some presidential action as if the sky is falling, tyranny is upon us, etc, when in fact what happened is commonplace, likely innocuous, and has been going on for a very long time.

People cite the Bush presidency because its the most recent and thats as far back as they remember, not to mention he is of the opposite political party as the current office holder. The general point is that most attacks on presidents are unfair and not well thought out because presidential politics is so polarizing and personal.

Jenson71
09-22-2010, 03:37 PM
I know this isn't the thrust of your point, but Republicans / Conservatives practically always support our troops; not just when it's politically advantageous to do so.

I think you'd be hard pressed to find any clips of Republicans making statements about our soldiers in Afghanistan like Kerry and others made stating our troops are terrorizing / murdering innocent citizens. I would be ashamed to see them resort to tactics like keeping a body count like the media was so generous in doing every night on television while Bush was in the White House just for political posturing.

Most Democrats/liberals are always supportive of the troops, as well.

Other than Keith Olbermann, what media group kept a body count on television every night while Bush was in the White House?

Stewie
09-22-2010, 03:51 PM
The latest Woodward book is suppose to be a telling bombshell of the in house fighting between the administration.

So much for being a community organizer.

The more I see bits and snippets from this book the more it is revealing that this admin has no clue. It's really sad.

Taco John
09-22-2010, 04:23 PM
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mlyonsd
09-22-2010, 04:40 PM
I'm sure both Romer and Summer's are going back to their prospective schools so they can explain to their students how bad they F'd up.

fan4ever
09-22-2010, 09:40 PM
So do Democrats. We just don't support all of THE POLITICAL DECISIONS MADE ABOUT HOW TO USE THEM.

I assume you're talking about the electorate; the leadership is a far different matter.

fan4ever
09-22-2010, 09:41 PM
Most Democrats/liberals are always supportive of the troops, as well.

Other than Keith Olbermann, what media group kept a body count on television every night while Bush was in the White House?

Um, I NEVER watch Olbermann except when someone posts one of his rants and I got a body count every night by my local stations; even the FOX affiliate.

KC native
09-22-2010, 10:49 PM
Good riddance. Summers is a fucking moron. Glad he is gone.

alanm
09-22-2010, 11:37 PM
It worked for Pete Carrol. :D

Chief Henry
09-23-2010, 08:53 AM
Its amazing to see the spin on this message board by LEFT of center voters.

If Bush were president right now and his 3rd economics advisor had just announced he was stepping down even before 2 years are up and after an announced 25% increase in home mortagage forclosures from one year ago along with 9.5% unemployment - the LEFT of center voters and the MSM would be demanding that BUSH step down. The newspapers would have daily editorials with screaming bold headilines above the fold and the TV broadcast would be leading the charge of how BUSH was out of touch.

Because of the left spin machine, we know who's at fault. Its Bush, Fox NEWS, talk radio and right wing bloggers.

In 2007 we had 3 bank failures.
In 2008 we had 28 bank failures.
In 2009 we had 140 bank failures.
In 2010 so far we've had 125 bank failures.

The Mad Crapper
09-23-2010, 08:55 AM
Its amazing to see the spin on this message board by LEFT of center voters.

If Bush were president right now and his 3rd economics advisor had just announced he was stepping down even before 2 years are up and after an announced 25% increase in home mortagage forclosures from one year ago along with 9.5% unemployment - the LEFT of center voters and the MSM would be demanding that BUSH step down too. The newspapers would have daily editorials with screaming bold headilines above the fold and the TV broadcast would be leading the charge of how BUSH was out of touch.

Because of the left spin machine, we know who's at fault. Its Bush, Fox NEWS, talk radio and right wing bloggers.

24 hours after the R's take back the house and senate, the moonbats will be in a frenzy demanding how come the economy isn't getting any better.

LMAO

KC native
09-23-2010, 08:59 AM
Its amazing to see the spin on this message board by LEFT of center voters.

If Bush were president right now and his 3rd economics advisor had just announced he was stepping down even before 2 years are up and after an announced 25% increase in home mortagage forclosures from one year ago along with 9.5% unemployment - the LEFT of center voters and the MSM would be demanding that BUSH step down too. The newspapers would have daily editorials with screaming bold headilines above the fold and the TV broadcast would be leading the charge of how BUSH was out of touch.

Because of the left spin machine, we know who's at fault. Its Bush, Fox NEWS, talk radio and right wing bloggers.

You are retarded. Economic advisors usually don't stay long because they make a fuck ton more money in the private sector. They take those positions as resume builders and when another good opportunity comes up they bolt.

Second, if you had any clue of what was going on you would know that the increase in foreclosures was entirely expected. Banks have been slow to foreclose because they don't want a lot of RE on their balance sheets right now (especially at low prices where they have to recognize the loss). Also, we are just now seeing the beginning of the mountain of IO/ARM resets. 2011 and 2012 will be just as bad for foreclosures unless the banks are proactive and take a bath early.

Chief Henry
09-23-2010, 10:32 AM
You are retarded. Economic advisors usually don't stay long because they make a **** ton more money in the private sector. They take those positions as resume builders and when another good opportunity comes up they bolt.

Second, if you had any clue of what was going on you would know that the increase in foreclosures was entirely expected. Banks have been slow to foreclose because they don't want a lot of RE on their balance sheets right now (especially at low prices where they have to recognize the loss). Also, we are just now seeing the beginning of the mountain of IO/ARM resets. 2011 and 2012 will be just as bad for foreclosures unless the banks are proactive and take a bath early.


Having on your resume that you were an "economic advisor" to this president
will NOT enhance your resume.

The uncertainty coming out of Washington DC is killing job growth. If you don't see that...then you must be the retarded one.