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bampbs

It was pathetic to hear Obama proclaim that government ought to run its finances like a household. He broadcast his cluelessness about political economy, and his electoral naivete in making his opponents' arguments for them.

Orszag did immense damage, and Obama's infuriating lack of fight gave away the 2010 midterm. It was clear by the summer of 2009 that there was no one on the Republican side to be bipartisan with. Romer was absolutely right.

It seems that Obama has snapped out of it, but whether in time or not I have no idea.

About Free exchange

In this blog, our correspondents consider the fluctuations in the world economy and the policies intended to produce more booms than busts. Adam Smith argued that in a free exchange both parties benefit, and this blog's aim is to encourage a free exchange of views on economic matters.

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