November 24th, 2008
08:47 AM ET
10 years ago

Obama poised to name another economic advisor

Romer was named to Obama’s economic team Monday.

Romer was named to Obama’s economic team Monday.

(CNN) - CHICAGO, Illinois (CNN) - Sources close to the Obama transition team say Berkeley Economics Professor Christina Romer will be the Chair of the President's Council of Economic Advisers.

What makes this selection more interesting than some of the other Obama picks is she's a female, a California academic, and a Washington outsider.

An important distinction is that this is different than the job Lawrence Summers is expected to get as director of the National Economic Council.

The Council of Economic Advisers is a group of economists, including three who are appointed by the president and need Senate confirmation, who advise the president on economic policy.

The CEA is part of the executive office.

The National Economic Council (NEC) coordinates the president's economic policy between the department of Housing and Urban Development, Health and Human Services, Labor, Treasury, and the Federal Deposit Insurance Corporation, among others.

The Summers appointment does not require confirmation.

Filed under: Obama transition
soundoff (58 Responses)
  1. Sam

    Is anybody else ready to admit that President-Elect Obama used each and everyone of us that donated our hard earned money to him. He is backtracking on all his campaign promises.

    November 24, 2008 10:22 am at 10:22 am |
  2. Justin Slayer

    Is she a fox?

    November 24, 2008 10:25 am at 10:25 am |
  3. Latina-Indepedent-4-OBAMA

    PLEASE STOP...... with the disrespect of the Clintons! During the EIGHT years of the Clinton Administration, America enjoyed the MOST prosperous years in history!

    President-elect Obama, will choose whom he believes will do the BEST job for our Nation.

    Regardless, of our political views, those of us who LOVE our Nation, must support our President-elect Obama. He can not reverse what I call the "Bush Disaster" overnight. He will need our help and we can start by stopping all the criticism!

    Our Nation is already in deep trouble, now is the time to come together for the good of the Nation, we 'claim' to love! Its easy to criticize, but the mark of a true Patriot is setting EGO and ideology aside and supporting our leadership!

    Obama is facing a disaster, unlike we have ever faced:

    Over $10 TRILLION in Nation debt
    TWO wars...... the one in Iraq, costing $10 BILLION a month!
    A deficit for 2009....... of.....ONE TRILLION!
    OVER a million Americans out of work!
    Continuing problems with the banking industry...... and now the auto industry!

    We need to revive that good old American "CAN DO" spirit, stop the fear and BELIEVE that our Nation's best years are ahead!

    November 24, 2008 10:26 am at 10:26 am |
  4. Martin G

    One of Obama's cheif economic advisors is former Clinton Treasury Secretary Robert Rubin. He has been playing a key role in the Obama transition effort. Why is Obama taking so much economic advice from a man so tied to our current economic woes, particularly the collapse of Citigroup?

    November 24, 2008 10:26 am at 10:26 am |
  5. Sweetie

    Clearly this appointment is to keep the Liberal Left Happy!

    I wonder how much money came out of the VERY LIBERAL BAY Area.

    I think we will see more "California Academic's" appointed!

    As long as the Stock market reacts favorable we all win, other wise we all lose!

    Chose wisely please!

    November 24, 2008 10:30 am at 10:30 am |
  6. LyonsPhilly

    This is to all the bloggers that are confused about the President-Elect's choices and question the reason he is holding off on raising taxes on the rich. I guess this would be a little confusing since you're not a leader nor will you ever be. Obama has a hard road ahead of him and don't need negative folks putting their two cents in. Show me the country you all have been leaders in.....

    November 24, 2008 10:30 am at 10:30 am |
  7. Anonymous

    This is for Charles Walker.

    Actually, the best economic times came during the Reagan administration. It was the greatest peace time turn around in the history of the country. Also remember that during the Clinton administration our military was drastically reduced, underfunded and treated with disdain. I know, because I was in during his full administration. Clinton increased taxes and decreased military spending to balance the budget. The greatest challenge and problem for the Bush administration was and is the war on terror. No other president has had to deal with a direct attack on home soil. The increased spending ties to that. We added new forms of government and increased military spending. We cannot, in these times, afford to cut the spending to our military. I hope that Obama recongnizes that.

    I will admit that Clinton balanced the budget, but given Obama's plans, that won't happen with him unless taxes are dramatically increased. He is adding way to much new governement spending and were is the money coming from to pay for it?

    November 24, 2008 10:31 am at 10:31 am |
  8. Catherine

    She won't last long...once Summer's gets in there and starts bullying all of the females as is his MO, she'll leave.

    November 24, 2008 10:33 am at 10:33 am |
  9. Sanity has Returned

    Right Roger, I'll bet you voted for Obama.. lol While I didn't vote for Hillary in the Primaries, I am glad that Obama is considering her for SOS post. The thing about these posts ( except SOS ) is that they can all be replaced if they aren't getting the job done. As for Obama saying he was going to raise taxes on capital gains and for anyone making over 250,000 per year, things have changed dramatically in the past few weeks, so it doesn't surprise me that he would have to take another look at this. I suppose all you Republicans think he should give bigger tax cuts to the top 5%? All those hedge fund managers, mortgage brokers, big bankers and investment bankers that caused this mess in the first place? Are ya nuts? They get to keep theirs and then get some of yours.

    November 24, 2008 10:35 am at 10:35 am |
  10. Ken from missouri

    President Obama is putting together a dream team that will help the american people ,when you have a huge problem you bring the best
    together I think we all should give him a chance I don't care who is in
    office as long as we grt this economy going again,but one thing is for sure negativity won't help .

    November 24, 2008 10:38 am at 10:38 am |
  11. Deborah Treadway

    I am very impressed by Obama's decisiveness and speed at which he is appointing his Cabinet. I believe he referred to it as "deliberate haste" in his first press conference. Great term! Finally, we have grownups in Washington who are not afraid to make decisions, and to take responsibility for their actions. Too long we have had children batting the ball back and forth, pointing fingers and blaming everyone else for their mistakes. The buck stops here! Go Obama!

    November 24, 2008 10:38 am at 10:38 am |
  12. Jackie

    He picks experience's a problem. He picks inexperience's a problem. Let him and his team get into office and then have something to say. But it' pretty strange that the ones complaining are the ones who can do jack s... for the country!

    November 24, 2008 10:41 am at 10:41 am |
  13. Sam


    I am sorry I questioned the man who took over 1100 dollars of my money for his phoney campaign.

    I am not a leader as you surely must be. I only own my own company with 37 employees. So you please inform on what it is like to be President.

    The man lied...plain and simple. He lied to get my money. He either lied or he really has no idea what to do with the economy. So don't jump on me for questioning how I was duped out of 1100 dollars.

    I don't need to be spoken down to by someone who is probably at home eating bon bons right now watching Jerry Springer.

    I am mad. I was used...I was lied to...and I am mad.

    November 24, 2008 10:45 am at 10:45 am |
  14. Jackie in Dallas

    Give it a rest, people. President elect Obama is not even sworn into office yet, and is facing a lot of issues that Bush have kept hidden using the "national security" card. I think his choices so far have shown enormous thoughtfulness, and a desire to build a staff and cabinet that will THINK rather than just react.

    By the way, one of you said something about stop hating on Bush, we elected him. I DIDN'T! I voted against him both times, and his father. My votes may not have counted because of the way the Republicans had the deck stacked, but I don't believe I elected him - you so-called conservatives did. We warned you, but you didn't believe us. Now, we HAVE elected someone who thinks, who considers, and who listens to even his opponents. Why not try living under a President whose main concern is not making billions for his buddies? You might find you actually like it!

    November 24, 2008 11:00 am at 11:00 am |
  15. Bonnie in Wilmington NC

    All one can do is just sigh when reading things like what you said. You are so clueless. Please, the man isn't even sworn in yet, and already you have all the answers to questions that greater minds all over the world and from all perspectives are still trying to work through. You must be one of those folks who stand in front of the microwave and scream "hurry up". You might want to chat with Joe the plumber, he aspires to be an 'enlightened' citizen as well. Not to worry though, your name will be included when any benefits are identified. That's the good thing about our country, we try and take care of those who can't take care of themselves.

    November 24, 2008 11:05 am at 11:05 am |
  16. BBB

    Up until this past election I had never voted for a democrat for this nation's highest office. But I felt I had not choice this time... and I am hoping that the next four years will move our country in the right direction. To expect everything to change overnight is unrealistic... a nice dream, but not going to happen.

    It's time that everyone stopped the whining and bashing... we need to pull together as a country vs. the polarization we have been experiencing.

    Maybe if the fear & hate had not been spewed so freely during the general election we might not have all this hate as we move forward.

    Thanks to those who shall remain nameless for the garbage you spouted on the campaign trail – you sure did not do OUR country any favors

    November 24, 2008 11:10 am at 11:10 am |
  17. GA for Obama

    Walter Gatlin- Obama's Approval is 75%..GET THAT!!!

    November 24, 2008 11:11 am at 11:11 am |
  18. Lauren

    Wil Smith,

    Even though it sounds nice. I do not think giving the bailout money to John Doe Taxpayers will solve the housing problems. Why? Simply put, too many people in this country are stupid. They will spend the money on things they do not need. Rather than pay off thier mortage, For example, Hummers, big TVs, vacations at high dollar places. They would spend the money as if it is Xmas, and not pay off the bills they should because sooner or later the government will bail out the bad loans.

    I do not support the bailout to major companies, but also feel John Doe taxpayer has to be held responsible. Soooo, if money is to come to the public, if you have a mortage, it must be direct deposited tot hat loan. Anything left would be gravy and you can use it as you wish.

    November 24, 2008 11:13 am at 11:13 am |
  19. FL for Obama

    Anonymous – your name should be "CLUELESS"! You actually think the best economic times were under Regan with his "trickle down economics"? Yeah...right...that benefited me a whole lot – NOT! Clinton showed us a balanced budget and Middle East peace. Obama has one hell of a mess to clean up – so go right ahead and kick the sweeper while he's trying to sweep up the dirt from the last eight years. MORON!

    November 24, 2008 11:18 am at 11:18 am |
  20. Charm

    I think Romer is an excellent choice and Obama's cabinet is looking more impressive with each selection.

    To Walter Gatlin, if more people approved of Palin, McCain would have won the election. McCain lost a lot of potential votes when he choose that nutter as his running mate, including mine. Seriously, try chewing on that and swallow.

    November 24, 2008 11:22 am at 11:22 am |
  21. Mickie

    By the way, the best economic times were not during the Reagan administration. He started this "trickle down economics" and when he was governor of California ruined the education system there. Now his trickle down theory has ruined the nation. I'm so sick of people acting as if Reagan was such a saint. Bill Clinton was the only president with the ability and sense to balance the budget and the average citizen was much better off than in the Reagan or the Bush era. That is why there republicans lost after Reagan, the country was going down the tubes.

    November 24, 2008 11:23 am at 11:23 am |
  22. TheTruthHurts

    I had Romer when I was at Cal. She's extremely bright and should "shake things up" a bit from the Wall Street insiders. The NY guys know the on-the-ground reality and Romer is more of an academic. She knows her economic and world history though. Should be interesting.

    November 24, 2008 11:48 am at 11:48 am |
  23. Chuck

    Let Obama do his job. It could never in a million years be worse than the two Bushes

    November 24, 2008 11:54 am at 11:54 am |
  24. sam

    bonnie in wilimington.....

    did you read my post?

    Where do I claim to have the answers? But based upon what I should be clear that Obama doesn't either.

    Perhaps you can finding a reading buddy to help you out with those difficult 5 letter words I used.

    November 24, 2008 12:28 pm at 12:28 pm |
  25. Cheese and Whine

    Yeah, yeah, yeah...Obama...the NOT President has already reneged on all his campaign promises and has failed to bring change to Washington 60 days BEFORE he is inaugurated.

    Isn't this boring to you yet?

    Oh yeah, in case you weren't paying attention they leaked that Geithner would be Treasury Secretary on Friday and the markets shot up after a week of falling.

    So, yeah...Obama...the guy who has no real job at the definitely doing a terrible job.

    Some of you blow my mind.

    November 24, 2008 12:31 pm at 12:31 pm |
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