The initial round of publicity for Ron Suskind’s “The Confidence Men” ...we’re seeing some of the meatier revelations, including that President Obama confounded some of his economic advisers — notably Larry Summers and Christina Romer — by arguing that high unemployment was driven by rising productivity. “The president seems to have developed his own view,” Romer said, or at least is reported to have said.
So, Obama doesn’t even have the economic understanding of a Keynesian (which is pretty limited itself).
He blames unemployment on productivity? Unbelievable!
No wonder he hates ATM’s so much. He’s a Marxist Luddite.