Christina Romer, chairwoman of Pres. Obama's Council of Economic Advisers, has decided to resign, according to a source familiar with her plans.
Romer, an economics professor at the University of California (Berkeley) before taking the key admin post, did not respond to repeated calls to her office.
"She has been frustrated," a source with insight into the WH economics team said. "She doesn't feel that she has a direct line to the president. She would be giving different advice than Larry Summers [director of the National Economic Council], who does have a direct line to the president."
"She is ostensibly the chief economic adviser, but she doesn't seem to be playing that role," the source said. The WH has been pounded for its faulty forecast that unemployment would not top 8% after its economic stimulus proposal passed.
Instead, the jobless rate is 9.5%, after exceeding 10% last year. It was "a horribly inaccurate forecast," said Bert Ely, a banking consultant. "You have to wonder why Summers isn't the one that should be taking the fall. But Larry is a pretty good bureaucratic infighter."
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JMC Ministries Response
It seems more and more of Obama's "Czars" are resigning for some unknown reason. The question is who is going to be replacing all these people? What is really going on in the White House? These are questions I think will come to a head with in just a few months when as we head into the 2010 Presidential Elections.
But what is clear is that those who have been either voted in or appointed into power in Washington D.C have NOT done their jobs. American's need to vote and let our voices be heard or else this destructive path our country is on will only get worse.
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