Former presidential economic advisor Christina Romer showed even deeper opposition to Obama’s policy at a talk yesterday (via Politico’s Ben Smith).
“I frankly don’t understand why policy makers aren’t more worried about the suffering of real families,” former Council of Economic Advisors Chair Christina Romer, who left the Administration last fall, said during a discussion at Vanderbilt University in Nashville Tuesday. “I think there are tools we have tools we have that we can use, and I think it’s shameful that we’re not using them.”
“We need to realise that there is still a lot of devastation out there,” Romer said, calling the 8.9% unemployment rate “an absolute crisis.”
Romer also criticised the Fed:
“If I have a complaint about policy these days, it’s that we’re not doing enough,” she said. “That goes all the way up to the Federal Reserve, [which] could be taking more aggressive action. It goes to the Congress and the Administration – there are fiscal policy actions they could be taking.”
Romer supports extending the payroll tax to stimulate the economy.
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