AND NOW REALITY - AT 7:23 A.M. ET:  When he was president of Harvard, Larry Summers wasn't known for his diplomacy.  He spoke his mind and was a breath of fresh air in the politically correct, party-line precincts of
Cambridge, Massachusetts.  Naturally, he was ousted by those he upset, which included a good chunk of the back-to-the-sixties faculty. 

Now Summers is a key Obama economic adviser.  I heard him speak last year.  He's a brilliant guy whose tailor apparently doesn't measure very carefully.  Now he's speaking his mind again, and the messiah-has-come crowd may not like it:

April 26 (Bloomberg) -- The U.S. economy will continue to contract “for some time to come,” said Lawrence Summers, director of the White House National Economic Council.

“I expect the economy will continue to decline,” with “sharp declines in employment for quite some time this year,” Summers said today on “Fox News Sunday.”

The International Monetary Fund, which held meetings last week in Washington, cut its forecast for each of the Group of Seven economies for this year and next. The IMF, established in 1944 to aid countries in financial crisis, said the U.S. economy would shrink 2.8 percent this year and have no growth in 2010, with unemployment rising to 10.1 percent.

COMMENT:  Pretty soon, Americans are going to start asking why we've spent trillions, where that money is going, and who benefits.  If Republicans get their act together, those questions will be asked before, not after, the 2010 congressional elections.

April 27, 2009