Krueger favors a national cap-and-trade program, which he says would produce green jobs. He has claimed the $825 billion stimulus was growing the economy, which can't be taken seriously given the jump in the unemployment rate from 8.2 percent when the stimulus was passed, to the current 9.1 percent. Previous economic advisers Christina Romer and Jared Bernstein predicted that, after the stimulus, unemployment wouldn't rise above 8 percent.
As The Washington Post fact checker, Glenn Kessler, noted last week, "Unless the economy turns around in the next 18 months, Obama is on track to have the worst jobs record of any president in the modern era."
In May 2001, when President George W. Bush had been in office just three months and unemployment was at 4.5 percent, Krueger told Jim Lehrer on PBS, it was hard to find a "silver lining" in the number since "the loss in total employment was almost a quarter of a million jobs" and that it was "quite a grim report."
Who wouldn't settle for numbers like that today?
The naming of Krueger is another indication that President Obama is not likely to adjust his "spread the wealth around" philosophy in light of the facts. With the words "fanatic" and "extremist" being applied by liberal Democrats to some of the Republican presidential candidates, the Obama administration continues to engage in economic extremism with its fanatical policies that don't have a chance of producing jobs in the private sector, much less win congressional approval.
Freddy Krueger terrorized his victims in their dreams. If Alan Krueger has his way, the dreams of too many Americans will soon become nightmares.