Austan Goolsbee

September 10, 2010 by staff 

Austan Goolsbee, President Obama’s selection of Austan Goolsbee be the new head of his Council of Economic Advisers

1. Do not expect any tax cuts can recommend great. Goolsbee is extremely skeptical of the arguments of prosecutors of the offer, calling the Laffer curve fiction “fleeting economic imagination.” In fact, may have influenced Obama himself, who in his 2008 book, “The Audacity of Hope,” says he does not not buy the theory that the Reagan tax cuts in investment or changed work incentives. He, however, I think it would be a bad idea to lower corporate tax rates if there were also fewer credits and deductions.

2. The unions do not like the selection. Remember that during the 2008 campaign, Goolsbee was rumored that Canadian officials whispered that candidate Obama had no intention of reopening the North American Free Trade. In fact, Goolsbee is likely to be another pro-business voice in the administration. He was also against the bailout of Chrysler, to the chagrin of the UAW.

3. He thinks the “creative destruction” is generally good for America. As he wrote in 2007:

Perhaps the greatest amount of uncertainty and beat in the world economy in the 1990s is the new standard. Perhaps the 21st century continually favors those that adapt better to changes. … “But that is, of course, the paradox of the American position. We hate experiencing major adjustments and changes in the industry to force people to seek new jobs. That experience has made many skeptical about the future of United States in the global economy. However, the evidence seems to show that for all our dissatisfaction, we are more flexible economy around and may be better equipped to take advantage of the coming global changes, because they are so good at setting.

4. Wall Street is probably not a fan, either. When Goolsbee won the 2009 “DC’s Funniest Celebrity contest, got a big laugh when he called the big banks” ungrateful bstrds “that” the bankruptcy of its gradm. ”

5. His rise is one reason why Larry Summers out later this year. The famous wit can lose Goolsbee Summers, director of the National Economic Council. The two clashed over whether to bail out Chrysler well (Summers pro, with Goolsbee), with summer time trying to block access Goolsbee the president – as did the now-predecessor Goolsbee, Christina Romer.

6. His election would be a sign of Obama moving to the center in 2011. The resignations are allowing Obama to gradually reform its economic team. In addition to Goolsbee, will have a new budget chief Jack Lew deficit hawk in the U.S. course Senate confirmation. If Obama plans to spend the rest of their deals with a period look probably more Republican Congress, these two teams make a good start.

7. Tell at least one thing that will make Robert Gibbs winced. For a little famous comedy Goolsbee, joked that the White House took their ideas from textbooks “ancient, Karl Marx and Trotsky.” Or maybe the old research Goolsbee did the trick, as this document says R & D tax credits, as Obama wants to permanently extend mostly only raises the salaries of scientists.

Me: All that being said, the affable Goolsbee is about choosing the best Obama could have done in the work given to left-center pool of potential candidates.

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