President Obama has had a political beating from all sides over how he’s got handled the economic system. In a speech he made in Cleveland, he was, when it comes to understanding “the plight of the middle class,” really disconnected, says Arianna Huffington. Obama explained to the individuals, “Not everything we’ve done during the last two years has worked as easily as we had hoped, and I am keenly aware that not all our policies have been popular.” The Wall Street Journal explains that longtime adviser Austan Goolsbee likely got nominated for chair of the White House Council of Economic Advisors because of this. The Senate already cleared Goolsbee’s nomination.
Austan Goolsbee was before known as a university economist and advisory board member
Austan Goolsbee is doing more than just being the executive director of Obama’s Economic recovery Advisory Board. He also is an economist at the University of Chicago business school. The WSJ says popular speculation is the president elevated Goolsbee to the White House Council of Economic Advisers chairmanship due to their personal friendship and association within the administration’s inner circle. Christina Romer was the previous Economic Advisers chairwoman.
The WSJ reports that Goolsbee assisted in drafting policies during Obama’s first year, including expanded health care access, higher education aid and an energy push to generate jobs. The president’s “New Foundation” for middle-class economic security is what these are supposedly for. The Huffington Post explains this.
We might not want the change Austan Goolsbee will bring
Unemployment continues to plague America, and economic recovery during the current recession has been sluggish at best. Everyone seems angry about this, including Democrats, and firings are being discussed. These would contain firing Treasure Secretary Tim Geithner and National Economic Council Director Larry Summers. The WSJ explains that hiring on Austan Goolsbee as the White House Council of Economic Advisors leader is not going to change anything we do not like.
Further reading
Sun Times
blogs.suntimes.com/sweet/2010/09/obama_cleveland_jobs_speech_tr.html”>Chicago Sun-Times
Huffington Post
huffingtonpost.com/arianna-huffington/obama-insists-he-made-the_b_711515.html?utm_source=DailyBrief and utm_campaign=091010 and utm_medium=email and utm_content=FeatureTitle
Wall Street Journal
online.wsj.com/article/SB10001424052748704644404575482661827896950.html?mod=WSJ_hpp_MIDDLETopStories
Austan Goolsbee on CNN’s “Late Edition,” Sept. 21, 2008
youtube.com/watch?v=TKvMfVntY2g
