Wednesday, September 22, 2010

Larry Summers Quits

Larry Summers is now reportedly planning to quit as chief of the National Economic Council.

Given the fact that he seems to be relatively sensible for being a Democrat, and given the fact that Obama will unfortunately be President for at least another 28 months, that might appear to be bad news.

However, given how bad Obama's policies have actually been it is not clear whether he really had that much influence. Moreover, now that he will no longer be employed by Obama maybe can again openly state truths that he was previously aware of but that contradicts Obama's policies, such as the truth that more generous unemployment benefits increases unemployment or the truth that mandatory health insurance is a de facto tax.