Representative John Boehner is calling upon Mr. Obama to fire his economic team, including Treasury Secretary Geithner and head of the National Economic Council Lawrence Summers.
Mr. Boehner, smelling blood in the water, will likely be Speaker of the House after the midterm elections this fall and is making the right call. These guys, along with Fed Chair Ben Bernanke, need to go home and get real jobs. They have proven they don't know how to run a $15 trillion economy let alone a Burger King restaurant outside Fargo, North Dakota.
I have been calling for Bernanke and Geithner to be fired for some time, since the earliest days of this blog in fact. Check out this post from November 2009 as one example. I am truly satisfied that the senior Republican leadership in the House now agrees with me and is saying so publicly.
The U.S. economy is getting worse, not better. The Fed and the Congress have done all the stimulating they can to no effect. They have delayed the inevitable downturn but have not prevented it. I see no encouraging news to report on any front, and trust me when I say I'm looking everywhere.
Today's bad news? New home sales drop 12.4% to new record low.
John Boehner is right. These guys need to go. But, of course, it is doubtful they will anytime soon, certainly not before the November elections.