Are we seeing an economist exiting the sinking ship? White House Chairman of the Council of Economic Advisors, Austan Goolsbee, has suddenly announced that he will leave his post after less than a year.
This may be a sign of just how bad the economic outlook is right now, after a week full of nothing but rotten economic news for Obama. Goolsbee was just appointed to his current position in September, and is now set to be gone after less than a year -- in time for the 2011-12 school year.
Goolsbee tangled with other Obama advisors because of his fierce opposition to the bailout of Chrysler, which you can read about in Steve Rattner's Overhaul. He wisely saw that it was a bad deal -- something Obama won't admit in public even now.