Goolsbee turns into Senate's pick for chair for economic council

Because of the shape the economic system is in, President Barack Obama has had quite the whipping. He made a speech in Cleveland lately about the whole affair. He seemed like he didn’t quite connect with the people, says Arianna Huffington, when trying to understand “the plight of the middle class”. Obama explained to the individuals, “Not anything we’ve done throughout the last two years has worked as easily as we had hoped, and I am keenly aware that not all our policies are 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. Goolsbee already cleared Senate and doesn’t have to worry anymore.

University economist and advisory board members is what Austan Goolsbee was known as before

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. Goolsbee will replace former Economic Advisers chairwoman Christina Romer.

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.

Change coming from Austan Goolsbee might be unwanted

Unemployment continues to plague The United States, and economic recovery through the current recession has been sluggish at best. Everyone seems angry about this, including Democrats, and firings are being discussed. These would consist of firing Treasure Secretary Tim Geithner and National Economic Council Director Larry Summers. But placing Austan Goolsbee in charge of the White House Council of Economic Advisers is not a sign of new policies to come, writes the WSJ.

Additional 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