One of America’s finest reporters, Peter Baker, offers us — in a New York Times Magazine story — a behind-the-curtain look at the White House economic team of the past two years. It’s not a pretty picture. It’s a White House characterized by infighting and turmoil, out-of-control egos and dysfunctionality. “The team never embraced the no-drama-Obama ethos,” according to Baker.
Baker also writes that “their failure to define [the problems they faced in early 2009] from those early days has undermined a bedrock idea of American liberalism, the faith in the capacity of government to play a constructive role in the markets and make up for the limits of individuals to cope with them.”
It is little wonder that the president has brought in almost an entirely new economic team. But at some point, it may dawn on Mr. Obama that the problem is not simply his team, but the economic ideas and philosophy that are guiding his decisions. Those appear to be harder for him to replace than Larry Summers.