The White House announced Tuesday that Lawrence H. Summers will step down as director of the National Economic Council after the November elections and return to a teaching post at Harvard University. Summers is President Obama's top economic adviser. It is unclear whether Summers, 55, volunteered to leave his post or whether he was asked to go. The Obama administration has been under fire by Republicans and Democrats for making ill-advised economic decisions that have failed to stimulate the economy or create jobs. That viewpoint has been panned by some prominent economists who maintain that the country would be worse off without the stimulus package. "I will always be grateful that at a time of great peril for our country, a man of Larry's brilliance, experience and judgment was willing to answer the call and lead our economic team," Obama said in a statement. "We are on a better path thanks in no small measure to Larry's wise counsel." It's definitely getting hot in the kitchen. Time will tell if Summers got burned our couldn't take the heat.
Read more at The Washington Post.