We Have Identified The Problem And It is Geithner
Regular readers know how I have felt about Tim Geithner for a long while now. I think I first called for his resignation the day after he was confirmed as Treasury Secretary. I think my view has become the consensus of anyone not a Republican. See, e.g., Krugman, DeLong, Salmon and Judis.
Salmon says "It’s clear at this point that such a stimulus is not going to happen. The result is going to be devastating for millions of needlessly-unemployed Americans — and also for the fiscal health of the country as a whole. Geithner, it seems, deserves to shoulder a large part of the blame for that." Judis writes:
Will Obama continue to listen to Geithner? I certainly hope not. I used to blame the administration’s timid and self-defeating fiscal policy on Republican intransigence, but as Goldfarb’s profile shows, Obama and his Treasury Secretary deserve a good part of the blame for what is becoming Obama’s “Great Recession.”
(Emphasis supplied.) Speaking for me only
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