Christina Romer | Bill Maher | Credit Downgrade | The Daily Caller: "University of California, Berkeley Professor Christina Romer, formerly chair of the White House Council of Economic Advisers, appeared on HBO’s “Real Time with Bill Maher” Friday night.
Romer — who resigned in 2010 after inaccurately predicting that the $800 billion stimulus would lower the unemployment rate — said that the S&P credit downgrade was a sign that the country is “pretty darn fucked.”
“The long run budget situation is abysmal,” Romer said. “And it has been abysmal going back at least a decade. So it was never an immediate emergency. And it is something that we absolutely needed to deal with, but we didn’t need to deal with it today, we didn’t need to deal with it a week ago.”
Maher asked Romer, “How uncontroversial is Keynesian economics?”"
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