Tag: Christina Romer

Architect of our economic doom: We’re “pretty darn f-cked”

Only hours after S&P downgraded the U.S. for the first time in history, a former Obama economic adviser summarized the situation in a colorful way.

It’s always nice to see the person who caused your problems laughing at those problems. In this case we refer to Christine Romer, the first chair of President Obama’s Council of Economic Advisers.

ABC’s Jake Tapper reports the annoying news:

Only hours after Standard & Poor’s downgraded the credit worthiness of the U.S. for the first time in history, a former Obama economic adviser summarized the situation in a colorful way.

The U.S. is “pretty darn fu**ed,” said Christine Romer, President Obama’s first chair of the White House Council of Economic Advisers.

Appearing on HBO’s “Real Time with Bill Maher”, Ms. Romer was asked about what the downgrade means for the U.S. economy. Romer’s profanity followed a clip for a segment on Maher’s show called “How Fucked Are We?”

An amused Maher paused to let the audience enjoy what Romer had said. After all, it’s not everyday that a professor and former White House staffer swears on live cable.

Of course, as Rush Limbaugh always says, “Failure is a resume enhancement for liberals.” Romer left the Obama administration to disseminate her left wing lunacy to eager young liberal ears at UC Berkeley.

Here’s Romer back in 2009 telling Fox News’ Chris Wallace that she’s “absolutely confident” her economic policies will work in a year.

Unfortunately, she was wrong is 2009, but right in 2011.

Source: ABC News

Robert Gibbs accidentally reveals why the President’s economic policies have failed

Robert Gibbs is truly like the blind sow that occasionally stumbles upon an acorn. Telling the truth isn’t something he ever plans to do, but sometimes it just happens by accident.

Robert Gibbs is truly like the blind sow that occasionally stumbles upon an acorn. Telling the truth isn’t something he ever plans to do, but sometimes it just happens by accident.

The Hill reveals the latest Gibbsean revelation:

robert gibbs economic team exhausted
Sssssh! The Obama economic team is trying to catch a little well-deserved shuteye.

President Obama’s economic team is exhausted, according to White House spokesman Robert Gibbs, and that is one the reasons Christina Romer announced her departure Thursday.

Gibbs dismissed reports that Romer, the outgoing chairwoman of the president’s council for economic affairs, was leaving because of conflicts with Larry Summers, the director of the National Economic Council.

The press secretary told The Hill on Friday that Romer and the rest of the economic team have worked the equivalent of six years during the 18 months they’ve been in office, and Romer wanted to return to her normal life.

If that’s truly the case, and we must assume it is, because the Obama administration zealously protects the truth, it’s no wonder they’re exhausted. Let’s do a little math.

Gibbs claims the economic team has worked the equivalent of 6 years in just 1.5 years. The normal work week is 40 hours, so that means the President’s economic team is working 160 hours per week (1.5 years x 4 = 6 years and 40 hours per week x 4 = 160 hours per week).

Since there are only 168 hours in a seven day week (24 x 7 = 168), that leaves each member of the economic team just 8 hours of non-work time per week.

If we assume the average commute time for a member of the economic team is 30 minutes each way and they work 7 days a week (which they would have to do, because it’s mathematically impossible to work 160 hours per week in less than 7 days), that eats up another 7.0 hours per week.

Then let’s say they have absolutely no personal responsibilities because their spouses recognize the vital importance of their work and and agree to take out the trash, walk the dog, pay the bills and mow the lawn. This slavish devotion leaves the average member of the President’s economic team with enough time to sleep 1.0 hour per week (a tad less than 9 minutes per night).

In other words, the economic policies of this nation have been developed and executed by a gang of sleep-deprived zombies.

Finally, it all makes sense.

Source: TheHill.com

President’s “Middle Class Task Force” packed with highly-paid elitists, no middle class

<b>Typical transportation for members of President Obama's Middle Class Task Force</b>
Typical transportation for members of President Obama's Middle Class Task Force

The press trumpets President Obama’s Middle Class Task Force. But they never mention that it’s made up of highly-paid Veep Joe Biden and seven other White House elitists.

Maybe it should be renamed “President Obama’s Vision of What the Middle Class Looks Like Task Force.” Because no one who’s actually a member of the middle class is a member of the Middle Class Task Force.

Middle class is generally defined as anyone earning between $30,000 and $100,000 a year. Yet every member of the Task Force makes at least $150,000, putting them in the top 5% of American wage earners.

For example, Vice President Biden makes $227,000 per year. Council of Economic Advisors chair Christina Romer pulls down $172,000. And Energy Secretary Steven Chu takes home $191,000. And that’s just from their government gigs. Who knows how much they make from other sources.

In order to research the problems of the middle class, perhaps Task Force members can roll down the privacy windows in their limos and speak to their drivers. That’s about as close to middle class as these guys are likely to get.

Source: Yahoo News

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