After Summers, Which Path Will the President Take?

[depakid]

Now that Larry Summers is leaving, the President has a decision to make. His choice of a replacement will send a signal about the next two years of economic policy. That signal can restore consumer confidence and reinvigorate the electorate, or it can lead to even more discouragement and despair. Today unnamed Administration officials floated the idea of naming a corporate executive to the position. That's a trial balloon that should be punctured immediately.

The thirty-year-old law school graduate who asked the President yesterday, "Is the American dream over for me?" might interpret a choice like that as a 'yes' -- unless he also happens to be a Fortune 500 CEO.

There's some confusion around today's news about Summers' end-of-year departure. Was it a rushed announcement? Did Summers choose to leave, or did he get the axe? Bloomberg News observed that Summers' departure leaves Tim Geithner as the sole remaining member of Obama's original economic team, which adds up to something that looks very much like a shakeup.

Or maybe not.

More: http://www.huffingtonpost.com/rj-eskow/after-summers-which-path_b_734198.html