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Sperling Tapped to Be Obama's Economic Adviser -- and Negotiator
By Joseph Schuman - AOL NewsPresident Barack Obama has apparently chosen to replace his departing chief economic adviser, a veteran financial policymaker from the Clinton administration, with ... a veteran financial policymaker from the Clinton administration. But there are big differences between Lawrence Summers, who steps down this month as director of the National Economic Council, and Gene Sperling, the man expected to be officially tapped for that job Friday. The White House said Obama will announce economic personnel moves when he discusses the December employment report set to be released that day. Sperling, a ...
Little Change Expected in Cabinet, Obama Adviser Says
By Carla Baranauckas - Politics DailyPresident Barack Obama is not planning major changes to his Cabinet and will probably appoint a replacement for Lawrence Summers, the director of the National Economic Council, in January, the president's press secretary said in a televised interview Sunday. "I don't expect, quite honestly, big changes," Press Secretary Robert Gibbs said in an interview on CNN's "State of the Union." "I think we've had a very capable and good Cabinet that has helped move the president's agenda forward. I think there's obviously a lot that has to be done at Treasury to implement financial reform, at HHS to ...
Obama on 'The Daily Show' -- or Was It 'House of Wax'?
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
Maybe Obama Could Use Another Lawrence Summers as Econ Counselor?
By Tom Diemer - Politics DailyIn choosing a replacement for his brainy top economic adviser Lawrence Summers, the kind of person President Obama might consider first may well turn out to be . . . another Larry Summers. Unlike the departure of previous economic aides -- Christina Romer at the Council of Economic Advisers and Peter Orszag at OMB -- Obama is likely to take his time in finding a successor to Summers, who is staying on until the end of the year and then returning to Harvard. Summers may not have been most likable guy in the West Wing, but his intellect, gravitas and experience as a Washington insider will be ...
Lawrence Summers' Greatest Hits (and Misses)
By David Knowles - AOL News(Sept. 21) -- The White House announced today that its top economic adviser, Lawrence Summers, would resign following the midterm elections. With Summers' departure, Treasury Secretary Tim Geithner will be the last remaining major economic policy figure hired by the president at the start of his term. Both Peter Orszag, the former director of the Office of Management and Budget, and Christina Romer, the former head of the Council of Economic Advisers, resigned earlier this year. President Barack Obama released a statement about the man who served as the director of the National Economic ...
Top Economic Adviser to Leave White House
By not in system - AOL NewsWASHINGTON (Sept. 21) -- The White House says President Barack Obama's top economic adviser plans to leave the administration at the end of the year. The White House said in a statement that Lawrence Summers will leave his post as director of the National Economic Council to return to Harvard University. Summers departure comes amid a sluggish economic recovery that has seen unemployment hover near 10 percent. He would be the third high-level member of the Obama economic team to leave this year, following the resignations of budget director Peter Orszag and Christina Romer, head of the ...
Meet Austan Goolsbee, Obama's Hilarious New Economic Chair
By Dana Chivvis - AOL News(Sept. 10) -- Austan Goolsbee, President Barack Obama's pick to replace Council of Economic Advisers Chairwoman Christina Romer, was once described by Washington Post columnist George F. Will as "a masochist with a sense of humor." The description is apt for one of Washington, D.C.'s most colorful personalities, the man who famously said during the 2008 presidential campaign that "there is more information on the back of a box of Fruit Loops" than in John McCain's economic plan. At 41 years old, Goolsbee will be the youngest economist to chair the council since 1969, and he is taking the ...
White House Rebuts Boehner, Stimulus Critics With New CBO Report
By David Knowles - AOL News(Aug. 24) -- What affect has the $787, scratch that, now $814 billion stimulus bill had on the economy since it was passed in early 2009? On Tuesday, three separate takes emerged from three high-profile sources. According to House Minority Leader John Boehner, the effect was primarily was a "job-killing" one that should cost Treasury Secretary Timothy Geithner and economic adviser Lawrence Summers their jobs. According to the White House, the stimulus "prevented economic contraction" and is spurring innovation in clean energy, transportation and medical technology. Finally, according to a ...
Will Federal Stimulus Money for States Expire Before Recovery Arrives?
By Lou Cannon - Politics DailyWhen White House economic adviser Lawrence Summers testified before Congress last year to urge passage of the American Recovery and Reinvestment Act of 2009, he promised that the $787 billion stimulus would be "timely, targeted and temporary." But as David Wyss, chief economist for Standard and Poor's, observes, "the three T's did not occur." The Recovery Act was passed late and politics trumped targeting in many states. Of necessity, federal stimulus has also proven less temporary than Summers and his boss, Barack Obama, envisioned. In an effort to spur the lagging recovery, Congress has ...
Officials Say Jobs Will Grow Next Year, but It Will Be a Long Road Back
By Bruce Drake - Politics DailyTop Obama administration economic officials, as well as former Federal Reserve Chairman Alan Greenspan, expressed confidence today that job growth will resume next year, but they cautioned that it will take time until the unemployment rate returns to its pre-recession levels. ...
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