Will Roger Altman replace Larry Summers?

November 17, 2010

The latest buzz is that investment banker and former Deputy Treasury Secretary Roger Altman is the likely choice to replace Larry Summers as director of the National Economic Council.  A few thoughts:

1. He is another high-tax guy. At a symposium held by the Center for American Progress, I heard Altman advocate a large (like $500 billion) value-added tax ASAP to deal with the deficit.

2. Boy, if liberals were screaming about Bristol Palin making it to the “Dancing With the Stars” finale, this would make a terrible doubleheader. Not only is he a banker (from Wall Street!) who bought the tabloid National Enquirer in 1999, he is another ex-Clinton administration guy.

3. This would mean we would once again get to hear about  …. Whitewater (via NYTimes from 1994):

Roger C. Altman, a rising star in the Administration until Whitewater led both Democrats and Republicans in Congress to attack his truthfulness, submitted his resignation today as Deputy Treasury Secretary but said that it would not take effect until the Senate confirms his successor.

4. I guess this would be a sign of Obama reaching out to business. But this and a corporate tax cut would be more compelling.

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