"Over the past few weeks, there has been a remarkable change of position among the deficit scolds who have dominated economic policy debate for more than three years. It’s as if someone sent out a memo saying that the Chicken Little act, with its repeated warnings of a U.S. debt crisis that keeps not happening, has outlived its usefulness. Suddenly, the argument has changed: It’s not about the crisis next month; it’s about the long run, about not cheating our children. The deficit, we’re told, is really a moral issue.There’s just one problem: The new argument is as bad as the old one"
Just go and read it. It's no wonder that the Obama administration, devoted to the interests of Wall Street as they seem to be, won't let him anywhere near a position where he could take any action.