If there was any question that the man appointed this week by President Barack Obama to serve as his chief economic adviser, is just another corporatist looking to stick taxpayers with a hefty bill, check out these comments Alan Krueger made hailing TARP as a success of our legislative system:
Tim Carney explains why Krueger is bad news:
Tim Geithner’s deputy, Alan Krueger, is a fitting pick to lead President Obama’s Council of Economic Advisers — which is to say he believes in the same noxious collusion of Big Business and Big Government that has dominated the Obama administration’s economic policy.
The Wall Street bailout, cash for clunkers, the stimulus, subsidized municipal bonds, an infrastructure bank: Anytime you find the big business lobby rallying behind a proposed expansion of federal spending, you’re likely to find Krueger’s fingerprints, or at least the sound of his hands clapping.
Krueger’s pet policy at Treasury, a convoluted program called Build America Bonds, amounted to a taxpayer subsidy for big banks and other corporate giants that increased public indebtedness. In other words, typical Obamanomics.
Like I noted a few days ago, Krueger is just more of the same from the Obama Administration. And that’s why all this talk about job creation is a joke since it will be the same policies that they’ve been pushing for nearly three.