The third top economic post departure since July 30th, when Peter Orszag ended his time as Barack Obama’s budget director. Then came Christina Romer’s resignation as chair of the Council of Economic Advisers on September 3rd, and now Larry Summers, director of the National Economic Council, is jumping ship.

Why the stream of departures? Obama’s economic policies have failed and Americans have realized as much. The administration’s intended message here is that the house has been cleaned and the failed advisers are gone. The only problem: You can replace all of the schmucks you want, but if the policies remain the recession will continue.