Monday, February 9, 2009

The Role Economists Play in the Obama White House as Compared to the Last 8 Years

The Economist makes an interesting observation:

Mr Obama continues to seek sensible economic advice. It was emblematic of George Bush’s low regard for economists that in 2003 he moved the Council of Economic Advisers (CEA), the administration’s in-house think-tank, from the White House complex to a drab office building a block away. Mr Obama has moved it back. Each morning he gets a memo prepared the previous night by the CEA and the Treasury, then spends about 30 minutes with his economic team. In regular attendance are Mr Summers, Mr Geithner, Peter Orszag (the budget director) and Christina Romer, who chairs the CEA.


I wonder how this compares to how things operated when Bill Clinton was President.

7 comments:

rosserjb@jmu.edu said...

But I doubt that any of them are hookah smoking caterpillars, despite Obama's confessed past drug use... :-).

Anonymous said...

But why are these economists encouraging massive growth of the government? Do we eventually want everyone working for the government?

Ed Viguerie said...

I'd like to see Jared Bernstein in that mix.

BillCinSD said...

wherever he keeps them, choosing those that helped make the problem to try to "solve" the problem is a very poor strategy

Daro said...

Move Geitner into Rahm "Israel-right-or-wrong" Emmanuel's basement.

Bruce Webb said...

http://www.acorn-online.com/joomla15/index.php?option=com_content&view=article&id=15908:economist-jared-bernstein-rhs-74-joins-obama-biden-administration&catid=46:rfd-local&Itemid=778

If Joe Biden is in that meeting then Bernstein is there by proxy being as he is Biden's chief economic advisor. So there is hope that Obama is getting some EPI style input.

Jack said...

"I'd like to see Jared Bernstein in that mix."
That assumes that the Obama team is genuinely looking for advice that would benefit the people rather than the bankers.

"But why are these economists encouraging massive growth of the government? Do we eventually want everyone working for the government?"
That's a rather myopic view of any rendition of the stimulus pkg. The only growth in government will be the growth of its debt. The money gets spent by hiring firms to do the projects that are called for. The govt. doesn't build a school or a bridge. It hires contractors to do so. Even when the govt spends money on teachers, if ever it could be so wise, those teachers are carrying out an essential service for the government. They are not a part of a government bureaucracy.