Tuesday, September 21, 2010

How Does Obama Feel About Losing his Top Economic Advisor?

Obama's top economic advisor, Larry Summers, is leaving the White House soon to return back to being a Professor at Harvard University. Not everyone seems to agree if this is a good thing or a bad thing. In an article from the CNN Wire Staff, Obama claims that,
"Over the past two years, he has helped guide us from the depths of the worst recession since the 1930s to renewed growth, and while we have much work ahead to repair the damage done by the recession, we are on a better path thanks in no small measure to Larry's wise counsel."
To Obama, Summers has contributed a great deal of his knowledge, and he is sad to see him go. A White House official explained that Summers agreed to a one-year policy. Obama, however, invited him to stay for one more year. Unfortunately, Harvard has a strict two-year leave policy and Summers had already committed to returning for the Spring semester of 2011.
Although Obama seems rather adamant that Summers' knowledge has been of great benefit, there are others who are happy to see him leave. 
"He was criticized by conservatives for his role in the Obama administration's economic stimulus package and its bailout of automakers General Motors and Chrysler, while some of the administration's liberal supporters accused him of watering down needed reforms in the wake of the financial crisis that erupted in 2008."
Regardless of everyone's opinion of Summers, his time to leave has arrived and he is staying loyal to his job at Harvard. 

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