Goolsbee gets top WH economy job because …

posted at 1:36 pm on September 10, 2010 by Ed Morrissey

Well, this comes as no real surprise.  After all, these are the same reasons that Americans elected Barack Obama to the White House.  Politico reports on how Austan Goolsbee got the nod to succeed Christina Romer as chair of the Council of Economic Advisers:

President Barack Obama will announce Austan Goolsbee as the new chairman of the White House Council of Economic Advisers at an East Room news conference Friday, providing continuity in the face of a political storm.

Goolsbee, 41, will succeed Christina Romer. A senior administration official said Goolsbee is a team player who can navigate the White House, and is a skilled television interviewee who can help the president promote his economic message.

“He’s young and energetic, and good on TV,” the official said.

Ah, yes, just the qualifications that America needs in an economic policy leader.  Goodness knows that Alan Greenspan looks too old and cranky to get economic policy correct.  People with actual executive experience in the private sector usually don’t have the kind of bounce necessary to do stand-up comedy, a real necessity with this administration’s performance on job creation thus far.

So what does Goolsbee bring to the table, besides his sunny personality and wit?  His entire professional life has been spent either in academia or the public sector, which to be fair is not terribly unusual for an economist.  However, given the abject failure of the CEA’s Porkulus projections on job creation and the massive amounts of cash which have already been spent, this kind of “continuity in the face of a political storm” looks a lot like an insular attitude on the part of Barack Obama  Clearly, he does not want to hear any heterodox principles but wants to continue with his Chip Diller argument that “all is well,” with a fresh face to fill the Kevin Bacon role.

Voters are demanding a fresh direction in economic policy, federal spending, and government arrogation of power.  Obama will give us a double down on the failed policies by rewarding one of the team that blew it with Porkulus.  Hope and Change!


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Another professor, surprise, surprise, no “real” world experience..

reshas1 on September 10, 2010 at 1:38 PM

Same old, same old…..

Vanceone on September 10, 2010 at 1:38 PM

…because he’s a professor and agrees with the child, who is clueless on all matters “economy” and otherwise.

Schadenfreude on September 10, 2010 at 1:40 PM

Destroyer of the United States…..DOTUS.

Don’t doubt the Pappy (unfortunately).

PappyD61 on September 10, 2010 at 1:40 PM

He’s young and energetic, and good on TV,” the official said.

” … And his name is fun to say.”

LASue on September 10, 2010 at 1:41 PM

Obama only hires people who agree with him.

darwin on September 10, 2010 at 1:41 PM

If I were a Republican candidate for president, one of the things I’d do is have a section on my campaign website devoted to posting the complete resumes of everyone I want working in any top spot in my administration.

How do you think I’d do?

CurtZHP on September 10, 2010 at 1:42 PM

makes as much sense as Union leaders and Andy Stern suckign a paycheck on the ‘economic advisory council’

rayra on September 10, 2010 at 1:42 PM

Goolsbee gets top WH economy job because …

he owes the IRS back taxes?

faraway on September 10, 2010 at 1:42 PM

So what does Goolsbee bring to the table, besides his sunny personality and wit?

Good personal hygiene.

rbj on September 10, 2010 at 1:42 PM

He was a professor at the University of Chicago business school, which (unlike the university in general) is a very free market focused environment (think Milton Friedman). Hopefully he’ll bring some of that free market thinking to the White House if it’s not too late.

phillypolitics on September 10, 2010 at 1:43 PM

Maybe the administration can build some more roads. That’s the ticket.

Shtetl G on September 10, 2010 at 1:44 PM

He’s doesn’t have any real world experience and his favorite economist is Mao.

David in ATL on September 10, 2010 at 1:44 PM

Zero private sector experience…Imagine our suprise!

Harry S on September 10, 2010 at 1:46 PM

Goolsbee is a member of the Skull & Bones society that the media told us was super-secretive and was trying to create a new world order.

faraway on September 10, 2010 at 1:47 PM

The Titanic went through a lot of cruise directors towards the end too. One by one, they opted for service on a much smaller vessel.

RBMN on September 10, 2010 at 1:47 PM

Just more of the same from the regime.

rplat on September 10, 2010 at 1:47 PM

Just Add Water Economics

Isn’t a stand-up comic VP enough? These guys are serial.

Christien on September 10, 2010 at 1:47 PM

Austin Ghoulsbee, minister of phantasm economics.

ICBM on September 10, 2010 at 1:47 PM

They [Democrats] jammed the Senate version of their health-care bill through the House in March, in the face of the clear opposition signaled by the voters of Massachusetts as well as every public-opinion poll. I can’t think of a more unpopular major measure passed by Congress since the Kansas-Nebraska Act of 1854.

Back then, the Democrats also had supermajorities in both houses of Congress and a young, previously little-known president [Franklin Pierce] who had defeated an aging war hero [Winfield Scott] by a decisive margin. They realized that the Kansas-Nebraska Act promoting slavery in the territories would raise some hackles, but expressed confidence that voters would accept it when it was properly explained to them.

They didn’t. Voters reduced the number of Democratic House members from 159 to 83, nearly eliminating the party in much of the North. Democrats didn’t win a House majority for the next 20 years.

I’m sure that “promoting slavery” plank really helped Democrats forget about this chapter of their Party.

J_Crater on September 10, 2010 at 1:48 PM

Maybe he can clue Romer in on why unemployment rose to 10% after Porkulus which no one else on Obama’s economic team can explain. My guess is that he doesn’t know either. Maybe Obama should have picked someone who could have answered that question.

suburbanite on September 10, 2010 at 1:49 PM

White House officials interviewed other economists and were particularly interested in attracting a woman to the post. But Goolsbee was always the favorite for the job. No clear alternative arose internally. And a top official said: “It was hard to find someone on the outside who wanted to come inside.

Shocking- you couldn’t find anyone on the outside who supports more spending, more taxes, and more regulation as a way to rev the economy?

journeyintothewhirlwind on September 10, 2010 at 1:50 PM

However, given the abject failure of the CEA’s Porkulus projections on job creation and the massive amounts of cash which have already been spent, this kind of “continuity in the face of a political storm” looks a lot like an insular attitude on the part of Barack Obama Clearly, he does not want to hear any heterodox principles but wants to continue with his Chip Diller argument that “all is well,” with a fresh face to fill the Kevin Bacon role.

The parallel is striking with Obama replacing McChyrstal with Petraues. Absolutely striking!!

However, given the abject failure of the Afghanistan Islamic Sharia Nation Building sociology experiment on improving American security and liberty and the massive amounts of cash and lives and limbs which have already been spent, this kind of “continuity in the face of a cluster fark” looks a lot like an insular attitude on the part of Barack Obama. Clearly, he does not want to hear any heterodox principles but wants to continue with his Colonel Nicholson argument that “all is well,” with a fresh/old face to fill the Alex Guinness role.

Luka on September 10, 2010 at 1:51 PM

Are his only private-sector experiences writing for Slate and NYT?

Christien on September 10, 2010 at 1:51 PM

The issue is not career path of the chair of the Council of Economic Advisers. A bright fifteen year old who talkes Milton Friedman to heart would work out just fine. The trouble is that Keynesian economics is wrong, because it ignores the benefits of freedom to an economy and imagines all actors in the economy as little more than robots.

And sadly you can’t statistically refute Keynesianism, the only way could should it conclusively wrong! Because there is no way that we’ll have enough data until we meet a couple hundred other intelligent species in outer space. I’m not counting on encountering any little green men. All we can do practically against Keynesianism is keep pointing out the negative effects of any Keynesian action and hope that eventually people understand why it doesn’t work.

thuja on September 10, 2010 at 1:51 PM

They still think the problem is that the messaging. If they can just make up the right Orwellian terms then they will become popular again. And the oceans will recede and the trees will sing their praises…

The policies are the problem. And people have wised up to the Newspeak, tack.

Unbelievable.

petunia on September 10, 2010 at 1:52 PM

Another practitioner of Theoretical Economics. Just what we need.

kingsjester on September 10, 2010 at 1:52 PM

Austan Goolsbee: AIG execs deserve “Nobel Prize for Evil.”

*rimshot*

Christien on September 10, 2010 at 1:53 PM

Anyone ever step back and wonder exactly how much of the US would be left to save after January 2013?

Tuari on September 10, 2010 at 1:53 PM

The rise of Internet commerce completely altered the amount of information you could gather on company behavior so I naturally drifted toward it.’

Putting in my bet now that he will push for a Federal Internet Tax as a cure for all our ills….

journeyintothewhirlwind on September 10, 2010 at 1:54 PM

Voters are demanding a fresh direction in economic policy, federal spending, and government arrogation of power.

Don’t be silly. When voters elected Obama, it was a “mandate for change”. Now the voters are just acting stupidly.

ButterflyDragon on September 10, 2010 at 1:55 PM

If I were a Republican candidate for president, one of the things I’d do is have a section on my campaign website devoted to posting the complete resumes of everyone I want working in any top spot in my administration.

How do you think I’d do?

CurtZHP on September 10, 2010 at 1:42 PM

Remember, during the inaugration of Obowma, the tax troubles were apparent by several staffers and the Obowma staff produced a several page background check for new staff. This was to prevent TurboTax cheat Geitner issues in the future. So much for background checks on experience and more on substance with statist political leanings.

As the Obowma saying goes: I can continue to spend trillions, I still have checks.

dthorny on September 10, 2010 at 1:55 PM

Goolsbee gets top WH economy job because…

He sucks like the rest of them?

tommer74 on September 10, 2010 at 1:59 PM

Halperin makes Goolsbee squirm on VAT.

Christien on September 10, 2010 at 1:59 PM

ANOTHER GUY WHO NEVER HAD A REAL JOB IN PRIVATE ENTERPRISE.

ANOTHER PROFESSOR.

GREAT.

reliapundit on September 10, 2010 at 2:00 PM

Goolsbee: “We’re coming in with a ‘BANG!’”

And going out with a whimper.

Christien on September 10, 2010 at 2:03 PM

wow, just what we need. another fricking egghead. Wonderful.

B+

ted c on September 10, 2010 at 2:03 PM

Is he clean, and articulate?

capejasmine on September 10, 2010 at 2:05 PM

greattttt

joeindc44 on September 10, 2010 at 2:05 PM

…is a skilled television interviewee who can help the president promote his economic message.

Because clearly us rubes haven’t got the smarts to figure out how WONDERFUL the president’s economic message is…..

TeresainFortWorth on September 10, 2010 at 2:05 PM

Anyone ever step back and wonder exactly how much of the US would be left to save after January 2013?

Tuari on September 10, 2010 at 1:53 PM

Every single day!

capejasmine on September 10, 2010 at 2:06 PM

….nobody but a long-time crony would want the job at this point?

Same with Val Jarrett as chief of staff when Rahm splits.

Another reason: he thinks has to keep his cronies in these sensitive positions because anyone else would start leaking. And he’s right.

Remember when they used to criticize Bush (somewhat fairly, I thought) of cronyism? Obama has him beat by a Michigan Avenue mile.

Missy on September 10, 2010 at 2:07 PM

thuja on September 10, 2010 at 1:51 PM

Obowma Lied, the Economy Died

Keynes theory failed EVERY time it was attempted. Every time payroll taxes were cut, record income was reported by the treasury. GW Bush had record income taxe receipts in 2006 and the deficit was below 200 billion which dispels the “8 years of failed economic policies of Bush” theory.

In 2006, before the democrat congress raised the minimum wage resulted in another recession. Every year the minimum wage is increased a recession is the result. Minimum wage was not designed to support a family, contrary to democrat ideals. The democrats want the ability to control via wages and gov’t support which generates voter support for democrats, and eventually, the majority party.

dthorny on September 10, 2010 at 2:09 PM

Voters are demanding a fresh direction in economic policy, federal spending, and government arrogation of power. Obama will give us a double down on the failed policies by rewarding one of the team that blew it with Porkulus. Hope and Change!

If all you have is a hammer…

Rae on September 10, 2010 at 2:12 PM

He’s clean and articulate.

hip shot on September 10, 2010 at 2:15 PM

Goolsbee is a major smartaleck and thinks he’s really hot stuff. It should be very easy to get him to wisecrack and make a fool of himself on TV. Just pin the Obama administration’s abysmal, failed economic policies directly on this professor and ask him if his job is to help save Obama or the US economy.

VDH is spot on. These petulant 40-somethings can’t handle blame and pointed criticism of their failure to perform in the real world.

Christien on September 10, 2010 at 2:16 PM

A senior administration official said Goolsbee is a team player who can navigate the White House, and is a skilled television interviewee who can help the president promote his economic message.

So…he can get on TV and lie to your face and make it sound good???

Isn’t that Gibbs’ job???

BigWyo on September 10, 2010 at 2:16 PM

He’s young and energetic, and good on TV,” the official said.

… And his name is fun to say.”

LASue on September 10, 2010 at 1:41 PM

.
Like a boxer’s name or a wrassling star
“Goooooooooooooooooooooooooooooooolsbeeeeeeeeeeeee”

LincolntheHun on September 10, 2010 at 2:18 PM

Remember, Goolsbee called George W. Bush a “cheerleader for a team of arsonists.”

What a ghoul.

Christien on September 10, 2010 at 2:18 PM

Continuity with Wreckovery!!! Beyond dumb.

antisocial on September 10, 2010 at 2:19 PM

Obama’s “economic team” has been smoke and mirrors from the beginning (and, iirc, i posted that on hot air back at the beginning of 1989). Read the post.

“He’s young and energetic, and good on TV,” the official said.

The purpose of the “economic team” is to be a front for zero.

On the corner (NRO) this morning they noted that Obama has already contradicted Goolsbee on policy.

gh on September 10, 2010 at 2:22 PM

Ack: 1989 2009 … wishful thinking …

gh on September 10, 2010 at 2:22 PM

Just so we understand, Alan Greenspan, contributed to this mess we are in becuase of his easy money policies. I would not use him for an example of anything financial related.

paulsur on September 10, 2010 at 2:22 PM

I consider most real economists to be basically scientists.
If they never worked in the private sector, that’s acceptable, if their mathematics & analyses of economies can actually be proven to accurately predict trends & occurences in our economy.
So Mr Ghoulsbee, show me your mathematical models that have been proven to correctly predict & show changes in our nation’s economy.
I thought so.

Badger40 on September 10, 2010 at 2:25 PM

One significant qualification is that he has show the willingness to clean up messes that President Pookie leaves behind. That’s important.

iurockhead on September 10, 2010 at 2:25 PM

Just so we understand, Alan Greenspan, contributed to this mess we are in becuase of his easy money policies. I would not use him for an example of anything financial related.

paulsur on September 10, 2010 at 2:22 PM

I agree. He was another person whose predictions & analyses were consistently wrong.

Badger40 on September 10, 2010 at 2:26 PM

I consider most real economists to be basically scientists……………

Badger40 on September 10, 2010 at 2:25 PM

More like fortune tellers. And generally, not very good ones (with a few exceptions).

iurockhead on September 10, 2010 at 2:27 PM

an insular attitude on the part of Barack Obama

Did you really expect more from a One Trick Pony?

GarandFan on September 10, 2010 at 2:27 PM

Goolsbee gets top WH economy job because …

… “Vlad the Impaler” was unavailable.

… Fidel lost out when he questioned the “Cuban Model”

… White House staffers are props for South Park

… Sanjay Gupta told Obama that he didn’t want that job either.

… Lowering expectations – with a name like Goolsbee no one expects it to get better

batterup on September 10, 2010 at 2:28 PM

Oh, cripes. Who’s next, Gorelick? All the advice Obama will get from this “Council of Advisors” he could obtain just as easily from a mirror.

cthulhu on September 10, 2010 at 2:31 PM

Anyone that can go on TV with a soul patch in the middle of his head is alright in my book.

BigWyo on September 10, 2010 at 2:31 PM

With those priorities, Obama should have hired Anthony Sullivan.

forest on September 10, 2010 at 2:32 PM

Wonderful news. Just put a smiley happy face on the countries economic plight, spend more money we do not have, and do stand-up comedy. Sounds like Obama has finally come up with “Plan B”. What could possibly go wrong?

simkeith on September 10, 2010 at 2:34 PM

Goolsbee is the one who went to the Canadians during the campaign and told them 0bama wasn’t serious about re-doing NAFTA – so his capacity for duplicity has already been proven.

Lou Budvis on September 10, 2010 at 2:35 PM

Zero practical experience and a funny first name…

A perfect fit to the Obama Administration!!!

landlines on September 10, 2010 at 2:41 PM

“He’s young and energetic, and good on TV,” the official said.

Well golly gee frigging whizzy whiz! Sounds like this wunderkind would be more at home on Dancing With The Stars!

pilamaye on September 10, 2010 at 2:43 PM

He’s young and energetic, and good on TV.

Why didn’t Obama hire Sarah Palin? Oh, yeah, right, there’s that little thingy about telling truth to power.

Steve Z on September 10, 2010 at 2:46 PM

Obowma Lied, the Economy Died

Keynes theory failed EVERY time it was attempted. Every time payroll taxes were cut, record income was reported by the treasury. GW Bush had record income taxe receipts in 2006 and the deficit was below 200 billion which dispels the “8 years of failed economic policies of Bush” theory.

dthorny on September 10, 2010 at 2:09 PM

I just want to be clear that our views are in agreement. When I say we can’t refute Keynesianism on the evidence, I’m more talking about refuting it such that no economist could possibly assert it ever again. It very tough to do it at a theoretical level, because the data can be argued over endlessly and some other problems in econometrics. I certainly believe that the ideas of freedom we see in microeconomics are the truth of macroeconomics, but economist just haven’t been able to go from microeconomics to macroeconomics in any convincing way. It’s a difficulty that may never be resolved. The universe doesn’t owe us an answer to this question.

thuja on September 10, 2010 at 2:47 PM

What happened to Rosie Scenario PhD?

Is she still behind the teleprompter?

seven on September 10, 2010 at 2:49 PM

Goolsbee will prove beyond the shadow of a doubt and with geometric logic that a duplicate key to the wardroom icebox did exist!

Christien on September 10, 2010 at 2:51 PM

Goolsbee, just in time for Halloween!

Schadenfreude on September 10, 2010 at 2:56 PM

z z z z …….

leftnomore on September 10, 2010 at 3:20 PM

Special skill: spin!

Tzetzes on September 10, 2010 at 3:37 PM

…He likes Dogs?

vboscaino on September 10, 2010 at 3:43 PM

Hey, isn’t this the clown that during the campaign told the Canadians that Obama’s badmouthing of NAFTA was all BS, and that Canada didn’t have anything to worry about?

Ward Cleaver on September 10, 2010 at 4:07 PM

when they say she is a team player, what they mean is she is providing young boys as a “distraction” for the top dogs. Nothing says you have the job by letting your son get passed around by the bosses.

Niteowl45 on September 10, 2010 at 4:13 PM

Ghoulsbee is a funny idiot.

I like him.

If we absolutely have to have inexperienced clowns running this nation (and apparently we’re stuck with them) … then Ghoulsbee is at least funny!

HondaV65 on September 10, 2010 at 4:17 PM

I changed my mind about Anthony Sullivan. He has too much real world private sector experience for the Obama regime.

forest on September 10, 2010 at 4:43 PM

Goolsbee is a hard left loon with a terrifically warped perception of economics, what better qualification could there be, for a hard left loon with a terrifically warped perception of the world President?

Speakup on September 10, 2010 at 4:45 PM

Another epic failure. I hope the GOP runs an ad about Goolsbee’s NAFTA fiasco.

Ward Cleaver on September 10, 2010 at 4:48 PM

I don’t know what all this nay-saying is about. Clearly, the Obama Administration is looking towards the future.

They want to make it easier for Hollywood to cast the roles in the future made-for-TV movies. It’s pro- (show-) business!

malclave on September 10, 2010 at 5:11 PM

Goolsbee in an interview with tim o’reilly said that unemployment is the very last thing that improves out after a recession. I find it interesting but not surprising that the prez predicted that unemployment would be the first thing to react in a positive way to the stimulus.

AltTuning on September 10, 2010 at 10:32 PM

Too much theory is bad for any profession and the more responsibility one is given, the worse it gets.

flataffect on September 10, 2010 at 10:43 PM

Goolsbee gets top WH economy job because …

… he’s an International Man of Mystery tasked with helping Obi-Won get his mojo back?

ya2daup on September 11, 2010 at 1:22 AM

Just watched Goolsbee with Chris Wallace on Fox News Sunday. Buckle your seatbelts, our country is (even more)in trouble.

WisRich on September 12, 2010 at 9:19 AM