Politics

Obama's Economics: Can Old Dogs Do New Tricks?

Barack Obama spends a lot of energy making sure voters know he's all about change and that he isn't just a black male version of Clinton.

Barack Obama spends a lot of energy making sure voters know he's all about change and that he isn't just a black male version of Clinton. He even picked Elizabeth Edwards, not Hillary, to be his key adviser on health care. But his choice for chief economics adviser is a protege of the chief architect of Clinton administration economic policy. What kind of change does that represent?

Jason Furman, 37, has been ensconced at the Hamilton Project, a think tank economic policy group founded by Bob Rubin. You remember Rubin: He's the silver-haired patrician who was at the helm of Citigroup when its stock imploded amid the housing market crisis. Of course, he was also tapped by Bill Clinton in 1993 to become chief of the now defunct National Economic Council and later to be Treasury Secretary.  

In addition to working with Rubin, Furman engineered economic policy for the failed John Kerry presidential campaign in 2004. Is there such a dearth of talent in the world of dismal scientists who want to sign onto charismatic political candidates? Apparently, for help on his economic platform now that Hillary has conceded, Obama is dipping deep into the Clinton well of econ advisers. Besides Furman, we get Alan Blinder, former Federal Reserve member and staunch Clinton supporter, and Larry Summers, who succeeded Rubin at Treasury for Clinton and then went onto a brief and ill-fated term as president of Harvard University. No doubt Hillary remembers why Summers left that job after his inappropriate public comments on girls and their innate inability to master math.

Most Popular

5 Beaten-Down Stocks to Buy on the Dip
stocks to buy

5 Beaten-Down Stocks to Buy on the Dip

The market has delivered some nauseating volatility of late. The good news? That has teed up a few great stocks to buy at a discount.
September 27, 2021
10 Best Stocks for Rising Interest Rates
stocks

10 Best Stocks for Rising Interest Rates

The 10-year Treasury yield is hovering near its highest level in months. Here are 10 of the best stocks to buy in a rising interest-rate environment.
September 30, 2021
13 States That Tax Social Security Benefits
social security

13 States That Tax Social Security Benefits

You may have dreamed of a tax-free retirement, but if you live in these 13 states, your Social Security benefits are subject to a state tax. That's on…
October 4, 2021

Recommended

Business Cost Outlooks for 2022: Eight Key Sectors
Economic Forecasts

Business Cost Outlooks for 2022: Eight Key Sectors

What’s in store for all sorts of business costs in 2022?
October 12, 2021
The Most Expensive Natural Disasters in U.S. History
Economic Forecasts

The Most Expensive Natural Disasters in U.S. History

Wind, water, fire and drought have all wreaked havoc on the United States. What’s been the worst?
July 1, 2021
3 Reasons Not to Fear the Biden Tax Hikes
Politics

3 Reasons Not to Fear the Biden Tax Hikes

A lot of people are getting all worked up over President Biden's plan to raise taxes. Here are some reasons to chill.
May 3, 2021
7 Ways Biden Plans to Tax the Rich (And Maybe Some Not-So-Rich People)
Politics

7 Ways Biden Plans to Tax the Rich (And Maybe Some Not-So-Rich People)

How would wealthier Americans pay more in taxes under President Biden's American Families Plan? Let us count the ways.
April 30, 2021