Summer is drawing to a close, and with the turning of the seasons comes the end of the Larry Summers era at the White House. Now you can say goodbye to all the hassles and headaches of public service. A straight talker who doesn’t suffer fools lightly, you never were an easy fit for the political life. Good riddance, we say.
You’re in good company among the 2010 departures from President Obama’s economic team. Christina Romer left her spot as chair of the Council of Economic Advisors earlier this month. Now she’s back teaching at Berkeley, and may be in line for the presidency — of the Federal Reserve Bank of San Francisco. Similarly, White House budget director Peter Orszag left, and now he’s writing columns for one of the few national newspapers left standing!
And now you, Larry, are heading to Harvard, the place that made you, where you’ve already served as president. And you’re packing a huge resume. You worked on the stimulus package, one of the biggest federal expenditures ever. You were chief economist at the World Bank, and did a two-year stint as Treasury Secretary under Clinton. Surely, the recruiters will be banging at your door.
Plus, Obama’s made it clear that you’ll be able to bend his ear as a member of the Economic Recovery Advisory Board. Seeing how the economy still has plenty of recovering to do, we’re confident you’ll get plenty of face time.
Enjoy your last couple days as director of the National Economic Council, Larry. Only good things lie ahead.