Obama to Tap Goolsbee as Chair of Council of Economic Advisers
EmailAdministration sources tell ABC News that at the start of his press conference Friday morning, President Obama will formally announced that he is appointing University of Chicago economist Austan Goolsbee to be chair of his Council of Economic Advisers.
Goolsbee, 41, has already been confirmed by the Senate to serve as one of the three economists on the CEA; President Obama has the prerogative to appoint the chair. The former chair, Christina Romer, departed last week, returning to teach at the University of California at Berkeley. Goolsbee is also chief economist for the Presidential Economic Recovery Advisory Board.
The 1991 Yale grad is popular in the administration and appreciated for his communications skills, evidenced by his frequent cable TV bookings, his former hosting of a show on the History Channel, his former column in the New York Times and his award as Funniest Celebrity in Washington in 2009.
In a 2007 column, conservative George F. Will wrote, “Goolsbee no doubt has lots of dubious ideas — he is, after all, a Democrat — about how government can creatively fiddle with the market's allocation of wealth and opportunity. But he seems to be the sort of person — amiable, empirical and reasonable — you would want at the elbow of a Democratic president, if such there must be.”
Goolsbee’s appointment will mean that all of the president’s top economic advisers — Goolsbee, National Economic Council director Larry Summers, Treasury Secretary Tim Geithner — are white men who graduated from Ivy League schools. Not that there’s anything wrong with that.
Once called "Elliott Ness meets Milton Friedman" by comedian Jon Stewart, Goolsbee considers himself a data driven economist known for his expertise in tax policy and high-tech industries. He received his Ph.D from MIT and was the youngest full professor at the University of Chicago when the university deigned to give him tenure at age 31.
Readers of this blog might remember the minor kerfuffle he was part of during the Democratic president campaign regarding just what exactly he told Canadian diplomats regarding then-Sen. Obama’s public pronunciations regarding NAFTA. (For the record, if in fact Goolsbee told the Canadians not to sweat it, he has indeed been proven correct.)
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“are white men who graduated from Ivy League schools. Not that there’s anything wrong with that. ”
…you really do have the worst writers in history. Really.
Posted by: Joe | September 9, 2010, 11:13 pm 11:13 pm
“are white men who graduated from Ivy League schools. Not that there’s anything wrong with that. ”
And to think, a few days ago I was defending you as having some pretty keen political analysis.
JT has jumped the shark.
Posted by: mike from Arlington | September 9, 2010, 11:21 pm 11:21 pm
Sensitive commenters tonight.
Posted by: Joe six-pack | September 9, 2010, 11:25 pm 11:25 pm
Another Keynesian lapdog that will say we’re not spending enough. Yawn.
Posted by: DaveMN | September 9, 2010, 11:26 pm 11:26 pm
Maybe they’ll do away with this this economic experiment of Obama’s. After all, today we learned from the Associated Press on Yahoo News that Fidel Castro, Obama’s protoge, told an American journalist that Cuba’s communist economic model doesn’t work.
Posted by: EPU | September 10, 2010, 12:01 am 12:01 am
SURELY an excellent pick! Mayor Bllomberg should be persuaded to be the next Chief of Staff.
Posted by: Dr. Sam | September 10, 2010, 12:10 am 12:10 am
Communist protege? Did you go to college? Do you have any sense for what kind of economic mess we’d be in w/o the stimulus?
Keynsian lapdog? Have you read a newspaper in the last few years? Clearly your Friedman model is imperfect. If you suggest you’d have had it all figured out and would have allowed us to miss this mess, then holy cow–let’s get this guy elected.
God bless us if we couldn’t all just dispense with this petty sniping and be confident that intelligence, not ideology, wins the day. Goolsbee is fantastic–one of our best and brightest. Stop parroting back what Glenn Beck/Keith Olbermann tells you and think for once in your life.
Posted by: Sam | September 10, 2010, 12:23 am 12:23 am
So Obama picks yet another Ivy League graduate, this one who was a member of Skull and Bones, and we’re supposed to celebrate? How dumb do you think the people actually are?
Note to the mainstream media, the next time you want to know why the American people think the President and this Administration are out of touch with the country, let this be Exhibit A.
Seriously? You’re letting this moron become the Chair of the Council of Economic Advisers in the midst of a recession everyone outside out of Washington, D.C. knows is teetering on the edge of a double-dip and we’re supposed to be happy?
As for communication ability, that’s laughable. The fact that MSNBC and CNN apparently have nothing better to do than book this stuttering idiot Goolsbee does not actually make him a good communicator. Has anyone hear ever actually had to sit through one of his odd, meandering interviews in which he struggles to get out a single word? Because if they have, trust me, they would never again claim he that he is a good communicator.
Posted by: Dean | September 10, 2010, 12:28 am 12:28 am
There is one born every minute.
Amazing this guys seems to believe what he says.
I don’t believe one iota of what he’s saying.
This is how they spew crap. They put a nice guy to try to divert our attention from the reality of this economy.
Nice try Goolsbee!!
Posted by: Francisco | September 10, 2010, 12:38 am 12:38 am
“And to think, a few days ago I was defending you as having some pretty keen political analysis.
JT has jumped the shark.”
ditto.
looking for the news and landed a bigoted pot-shot. there’s no relevance.
Posted by: JS | September 10, 2010, 1:07 am 1:07 am
The Republican Party Maxed Out The nation’s Credit Card From 2000- January 2007 and Now they Pretend as if, a 2-Year President Caused this Economic Mess. Hardly
______________________
Republicans Left Over 8 Trillion Dollars Of Debt Over the next 10 Years, that means 500 Million Per Day in Interest Alone.
Find Anyone That Can Pay Off 8 Trillion Dollars Plus Interest in 2-Years.
If you Say Reagan: He Left George H.W.Bush 3 Trillion Dollars Of National Debt and His Savings & Loan Bail Out, Won’t be Paid Off until 2013. Reagan also Fought For and Preserved Social Security+ MediCare+ MediCaid [Entitlement Programs]
So Much For The Great Ronald W.Reagan
____________________
Yet I Noticed No Republican or Republican Media outlet, Releases such Indicting & Damning Data as this.
Posted by: One-0-One | September 10, 2010, 1:53 am 1:53 am
I hope the administration is not expecting this pick to excite their base. Goolsbee has zero progressive credentials. How can Obama campaign against the Republican economic model in Cleveland on Wednesday and pick this Friedmanite today?!
Posted by: Bodie | September 10, 2010, 1:54 am 1:54 am
Yes, Goolsbee is a Friedmanite, and would be comfortable in either party especially as Obama’s economic team continues to be dominated by market fundamentalists and neoliberals. The Republicans are far more destructive but no one doubt that both parties are dominated by Wall Street insiders.
Posted by: ceti | September 10, 2010, 3:57 am 3:57 am
“Do you have any sense for what kind of economic mess we’d be in w/o the stimulus? ”
Are you kidding? Perhaps you can enlighten us all with your economic acumen and explain how the stimulus has improved or helped alleviate this economic mess.
Posted by: J.R. | September 10, 2010, 8:42 am 8:42 am
“Yet I Noticed No Republican or Republican Media outlet, Releases such Indicting & Damning Data as this. ”
Obama has added more to the deficit than all the presidents from Washington to Reagan combined!! And that’s just in 2 years! Do you really want to go down this rabbit hole??
Posted by: J.R. | September 10, 2010, 8:45 am 8:45 am
Well, it doesn’t look as though the President is going to get the help he needs from this guy. No one needs another “Let’s Spend Keynsian Style” economist advising the Prez. But the guy does know when Obama is lying and that’s a plus but do you think he’ll point out when the President is lying after he’s part of the WH gang?
Posted by: Noz | September 10, 2010, 8:53 am 8:53 am
Let me be clear. Trust Slick Barry Obama to bring us exciting, fresh, bold, innovative solutions to our comatose economy……or maybe not.
Obama, this week:
“So, that’s why, Milwaukee, today, I am announcing a new plan for rebuilding and modernizing America’s ROADS AND RAILS AND RUNWAYS for the long term. I want America to have the best infrastructure in the world. We used to have the best infrastructure in the world. We can have it again. We are going to make it happen.”
Obama, February 6, 2009:
“But broadly speaking, the package is the right size, it has the right scope and it has the right priorities: To create 3 to 4 million jobs and to do it in a way that lays the groundwork for long term growth, by fixing our schools; modernizing health care to lower costs; repairing our ROADS, BRIDGES, LEVEES, and other vital infrastructure; move us toward energy independence.”
Obama, February 17, 2009:
“Starting today, our administration will be working day and night to provide more aid for the unemployed, create immediate jobs building our ROADS AND OUR BRIDGES, make long-term investments in a smarter energy grid, and so much more.”
Obama, April 13, 2009:
“We passed the recovery plan less than two months ago. Two weeks later, I came here to DOT to announce that we would be investing $28 billion to rebuild and repair our HIGHWAYS, ROADS AND BRIDGES.”
Obama, April 29, 2009:
“Across the state, roughly 20,000 transportation jobs will be supported by the Recovery Act so that Missourians rebuilding your ROADS, YOUR BRIDGES, YOUR RAILS.” (Hot Air)
Pretty much FDR-era WPA over and over and over again. And our economy still languishes while Germany, China, and other countries are growing. So, just how does runway re-surfacing create long-term job growth??
Posted by: Libs and The Lying Liars Who Elect Them | September 10, 2010, 10:11 am 10:11 am
“Are you kidding? Perhaps you can enlighten us all with your economic acumen and explain how the stimulus has improved or helped alleviate this economic mess.”
Unemployment stayed under 8%!
Posted by: Roamer | September 10, 2010, 10:30 am 10:30 am
Dean | Sep 10, 2010 12:28:17 AM posted: “You’re letting this moron become the Chair of the Council” Dean, dean, dean. Goolsbee is far from a “moron” – OK, so he is an academic.
But who would you prefer? Another Supply Sider – you know, those wildly successful economists who got us here? Or one more self serving bonus-lover who leads one of the Monster Banks? Or maybe an economist from one of the Koch Brother’s right wing think tanks who writes off half the U.S. population?
Check out Goolsbee’s academic work on the National Bureau of Economic Research site. I suspect he’s been moved into position to work on tax reform. Restructuring. And it’s about time.
Posted by: Mary Robson | September 10, 2010, 10:39 am 10:39 am
@Dean:
Okay, this is confusing. Why is everyone’s opinion–if they’re a Libertarian–directly related to Glenn Beck’s?
What if we have our own opinions, but they’re close? I mean, quite frankly, comparing us to Glenn Beck is the normal Democrat move, so stop parroting all of them, why don’t ya?
Think about that one.
–
Now, about this post as a whole. I’m curious about two things…
A. why does it matter if the guy’s white? I thought we were past racism? Of course, when I was younger, I was treated different because of my skin color. I had a person scream once when I hugged them (quite gently), actually. But, really, why do we keep coming back to this?
B. The Republican mentioned above is an idiot, obviously. “Well, uh, he’s good at talkin’ but he has weeeird ideas.” IDEOLOGY IS EVERYTHING. If you believe people should be lab rats–”Phantom Public” and all–you don’t belong in government. Sheesh. Try psychology. I don’t want anymore Cass Sunstein clones. When I am at the level of a prole (read “1984″ to get this), I fight back.
I think that covers my steadfast and radical opinions. I’ll leave now.
Good luck…
Posted by: Ghst | September 10, 2010, 12:20 pm 12:20 pm
^^Oops. @Sam, I meant. Sorry. The one who thinks we’re all Glenn Beck cultists…whoever you are…eh…
Posted by: Ghst | September 10, 2010, 12:22 pm 12:22 pm
Academics..all they have in common is the theorical theatre of the classroom..they got there by use of our tax dollars..think that the piggy bank of huge government is theirs to buy, prop up, anyone or group who buys into the propaganda of socialism..None have run a company, created jobs, had to deal with government(except create more)..November is coming, enjoy it while it lasts because your experiment is coming to an end. Every government job comes from people whom acually work for a living..States rights and limited federal goverment will return..must return..the constitution is not a flawed document..there is only flawed people in the highest level of government who are about to be schooled in the subject of WE THE PEOPLE..most or all these people have been exposed or out in the open for folks to see what they believe..it is time to fundamently transform these transformers in the lesson of a republic..and term limit their corruption and pompousity.
Posted by: Douglas Stillman | September 10, 2010, 12:57 pm 12:57 pm
Economic recovery is unimportant to Obama. “Spreading the Wealth” and “Economic Justice” are much more vital to the apostle of Saul Alinsky.
Posted by: Redistributor-in-Chief | September 10, 2010, 1:12 pm 1:12 pm
Mary Robson: “But who would you prefer? Another Supply Sider – you know, those wildly successful economists who got us here?”
Rather than just regurgitate what you’ve heard, you might try educating yourself. The recession was primarily caused by the housing bubble which was created by lax lending standards greatly supported by Democrats and their liberal ideology, not Bush economic policies. Prior to the housing bubble, the economy was doing good. If you insist on blaming Bush for the recession, you’ll need to cite specific policies and their direct correlation to the recession.
If Bush policies caused the recession, Democrats let it happen, since they controlled Congress since January of 2007. That was plenty of time for Obama, a member of Congress at the time, or any other Congressman to introduce their legislation to prevent the crisis. Instead, they were silent regarding the true economic threat. While it may advantage liberal politics to conflate Bush economic policies with the housing bubble-caused recession, it doesn’t make it true. Most Americans are smarter than that, and they will let Obama and the Democrats know come November and 2012.
Posted by: Anonymous | September 10, 2010, 1:19 pm 1:19 pm
I love the liberals they are so predictable. All they know how to do is get their talking points and act like they know what they are talking about. You people need to wake up in case you have forgotten the democrats have been in control of congress since 2006. It is not Bush’s fault. It is the spend and spend and spend democrats!!!
Posted by: Charles | September 10, 2010, 1:47 pm 1:47 pm
I have a strange feeling that this guy is going to be even worse than Christina Romer. Just the fact that the media is worshipping him and singing his praises just because he’s a self-described “progressive” for “social(istic) justice” is quite disconcerting for me.
Posted by: The Unpromised One | September 10, 2010, 1:54 pm 1:54 pm
For anybody who hasn’t read this article in full yet, please allow me to dumb it down for you… This is basically the summary of the article.
- Austan Goolsbee will replacing Romer, who left last week to teach (That’s her excuse and we’re sticking to it.)
- Goolsbee is witty and has poise and television presence.
- A conservative intellectual once said something nice about him.
- [bullcrap bullcrap bullcrap]
- [conspicuous absence of anything regarding Goolsbee's policy recommendations]
Posted by: The Unpromised One | September 10, 2010, 2:06 pm 2:06 pm
He’s been on television plenty, and he tows the white house economics team party line completely: we need to spend more to get out of this recession. Call him a monetarist or whatever you want, he certainly hasn’t been that publicly. Now, if he believes that because he’s chair he can advance some alternative ideas, more power to him.
Posted by: DaveinMN | September 10, 2010, 4:33 pm 4:33 pm
Posted by: Anonymous | Sep 10, 2010 1:19:03 PM “The recession was primarily caused by the housing bubble which was created by lax lending standards greatly supported by Democrats and their liberal ideology, not Bush economic policies”.
I see. So in your view the creation of risky, laxly regulated mortgage securities had no contribution? Or the fact that there was no job creation in place after the weakest numbers on record, just 3 Million new jobs over 8 years? No need to evaluate the effects of massive spending on two wars with parallel tax cuts.
Re-read the context of my post. It addresses supply sider economists, not Bush. These are the professionals we look to for direction. The same people who were skeptical and dismissive when told back in 2006 that the United States faced a catastrophic housing bust, a crash in the market for mortgage-backed securities, the collapse of major investment banks and a deep recession.
Btw: “Rather than just regurgitate what you’ve heard, you might try educating yourself.” Patronizing. Even among reasonably balanced economists there isn’t a convergence on the causes of this Recession.
Posted by: Mary Robson | September 10, 2010, 6:51 pm 6:51 pm
This entire economic meltdown was caused by the college educated idiots. Hows this gut any different? Has he ever ran a business..I doubt it. So its just more theory,
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Posted by: Shayne Sherman | September 3, 2011, 1:27 am 1:27 am