The Obama Economic Team

Nov

24

Andrew Samwick

Every significant addition to the Obama economic team is a good one: Summers, Romer, Geithner, Orszag. Let's hope they've got some better solution to the financial and economic crisis than firing money out of a cannon.

Obama Administration

Andrew Samwick's blog

On 23:43pm, November 24th, 2008 Yet Another Budget Wonk (not verified) said:

Is it too much to ask to get

Is it too much to ask to get a actual progressive on the cabinet and not more Clintonian neo-liberals who are in part to blame for the deregulatory bubble/bust we're going through? Jeez!

On 20:48pm, November 26th, 2008 Daniel Cline (not verified) said:

Back To Basics

To Budget means to apportion ones assets according to a set of priorities to achieve a set of goals within one's means.

If banks are too big to fail, then it follows that the USA is too big to succeed. Especially when fallout from one administration poisons the air for many future generations (of perhaps yet unborn) American voters.

Where in the constitution is it written that one of our inalienable rights is the right to credit? Where is it written that the debts of the debtors should prevail over those accounts of persons who are solvent and successfully living within their means?

I maintain that it is indeed possible to live without credit, without debt, and, yes, without banks! I am living proof.

If I haven't got sufficient funds for something, I simply don't buy it. If I want something for which I don't have the funds, I work for it, save for it; until such time as I have the funds. And if I want something for which I haven't the possibility of ever achieving, I save up my money to consult a psychiatrist in order to re-prioritize my wants.

It's getting to the point I'm doubting the ability of the FDIC to provide the safety net on bank deposits. I think that a nationwide run on the banks would be an event of sufficient magnitude to cause the collapse of FDIC. Perhaps the conversion of bank CD's to .05 oz. gold coins would be the solution.

On 8:31am, November 25th, 2008 D S Lamont (not verified) said:

Christina Romer, Keynes and international economic cooperation

Christina Romer’s appointment means that we will have at the Council of Economic Advisers an economist with a background in highly relevant economic history and with moderate Keynesian sympathies - just what we need. It is to be hoped that she underatands that one of the key lessons of Keynes is the importance of constructive US leadership in international economic cooperation - including in the international coordination of key economic policies, in building up effective international economic institutions, and in safeguarding free trade. She will be familiar with literature like Donald Moggridge’s biography of Keynes and Donald Markwell’s “John Maynard Keynes and International Relations”, which I think are very helpful in thinking and working our way - nationally and globally - through the present muddle.

On 10:57am, November 25th, 2008 drewdude (not verified) said:

Geithner is a mistake...

Geithner is a Wall Street anti-regulatory true believer. Center right. These guys are the problem, not the solution. I know there isn't a huge population of leftists/progressives in the business, but they're out there. Shouldn't we give one of them a shot instead someone who just decided government oversight wasn't such a bad idea last month. Reich, Soros, where are you?

On 20:17pm, November 25th, 2008 Patrick R. Sullivan (not verified) said:

Continuity is the game

Geithner is working with Bernanke and Paulson already. I'd say Obama realizes that if the economy rights itself next year he's got three years of economic expansion to run on for re-election.

Let me know when someone spots a Post-Keynesian appointment.

On 3:33am, November 27th, 2008 Bruce (not verified) said: