By Greg Anrig, Jr. | bio
From: Politics Right-wingers aren't going to be happy about the choice of Council of Economic Advisers chairman Ben Bernanke to take over for Alan Greenspan at the Fed. One reason is that Bernanke insisted over the summer that Social Security privatization be coupled with changes to make the program solvent, undercutting the free-lunch crowd's efforts to try to maximize damage to the system without any tax increases or benefit cuts. They also won't be happy that finalist and tax cut fetishist Glenn Hubbard was passed over. But most of all, they will be much chagrined to learn that, wait for it... as chairman of the economics department at Princeton, Bernanke recruited Paul Krugman from MIT.
As Kevin Drum would say, "More popcorn, please!"
Oct 24, 2005 -- 12:46:23 PM EST