Economics No Match For Politics

FORBES.COM, 12/8/2009 by Richard A. Epstein - The real reason that unemployment lines won't shrink. [...] Exhibit A is Christina Romer's recent Wall Street Journal column, "Putting Americans Back to Work." Romer heads the president's Council of Economic Advisers. Her column rates as a bit of transparent propaganda that belongs in a fan magazine, not a serious newspaper. If she wrote it of her own volition, she should be fired for economic incompetence. If, as seems more likely, the White House wrote it for her, or told her just what to say, she should resign in protest.

[...] ...she blindly celebrates Obama's worst economic blunders as his greatest triumphs. The $787 billion stimulus package in the American Recovery and Reinvestment Act was a bust. Its protectionist "Buy American" provisions remain a perpetual irritant to international trade. The warped Cash for Clunkers program created a short bubble via a massive public giveaway, while doing nothing to help the environment. Read more at Forbes...