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Daily Newscasts

With Record Poverty, Call Comes for Change in the Obama Administration

September 17, 2010

NEW YORK - The U.S. Census Bureau says the total number of Americans living in poverty is at its highest in decades: more than 14 percent in 2009. Millions of Americans have fallen below the poverty threshold since the beginning of the recession. Some on the left say it's time for the President to take a serious look at where he's getting his economic advice.

Author and blogger Robert Scheer of says White House economic adviser Larry Summers pushed for deregulation during the Clinton years that contributed to the economic collapse.

"That made those credit default swaps and everything all legal - and then he's advising Obama. Here's a guy who got $135,000 from Goldman Sachs for one little speech, while he's advising Barack Obama!"

Scheer says it's time for President Obama to clean house and correct what many Americans see as a government that's still too cozy with Wall Street.

"They've gotta fire, he's gotta fire Summers and Geithner - these guys deserve the pink slip! They've caused millions of Americans to get the pink slip."

The White House says the actions taken under the advice of Summers and Treasury Secretary Timothy Geithner have prevented the economy from possibly entering a depression.

Scheer's column calling for the firing of Summers was reprinted by a leading progressive magazine, "The Nation." It is available online at

Eric Mack, Public News Service - NY