The Financial Times reports on yesterday’s “fiscal responsibility” summit:

Although Lawrence Summers, head of the National Economic Council, fell asleep on the podium, most attendees, including Republicans, appear to have appreciated the exercise.

Lawrence Summers is a serious and responsible economist, and given his penchant for saying what he thinks the organizers were probably glad he was napping, as he otherwise might have rained on their “exercise.”

I have had a nagging sense these past few weeks that Barack Obama thinks that he is the president of a university. Yesterday’s conference, with its breakout sessions and half-aware absurdity, certainly didn’t allay that worry.