National Journal's Victor will have the scoop in tomorrow's edition of the National Journal magazine that Obama economic adviser Christina Romer is quitting the post. It all stems from her feeling -- despite her title as chairwoman of the President's Council of Economic Advisers -- that Larry Summers has more influence with the president.
Victor quotes "a source with insight into the White House economics team," who says:
“She has been frustrated. She doesn’t feel that she has a direct line to the president. She would be giving different advice than Larry Summers [director of the National Economic Council], who does have a direct line to the president. She is ostensibly the chief economic adviser, but she doesn’t seem to be playing that role."
And he quotes banking consultant Bert Ely, who faults Summers for the missed jobless rate projection. (The administration posited that it would be just 8% if the stimulus passed, yet it is nearly 10% now.)
“You have to wonder why Summers isn’t the one that should be taking the fall," Ely says, per Victor. "But Larry is a pretty good bureaucratic infighter.”