How did we wind up with another lightweight in the Oval Office? ...
Obama's chief economic advisor Larry Summers complained repeatedly to a rival Administration economist, Peter Orszag:
“’You know, Peter, we're really home alone.' Over the past few months, Summers had said this, in a stage whisper, to Orszag and others as they left the morning economic briefings in the Oval Office. ... 'I mean it,' Summers stressed. 'We're home alone. There's no adult in charge. Clinton would never have made these mistakes.’”
Of course, Summers, like Timothy Geithner, was one of those insiders who helped get the country into the financial mess that it’s in. But how was Obama—a man of so little financial acumen that he didn’t start putting his own retirement savings into a tax-sheltered SEP account until 2007, the head of a family that had kept going deeper into debt despite a $200,000+ income—supposed to out-argue the famous economist?