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At A Glance: Obama's Economic Team
POSTED: 11:25 am CST November 24,
2008
UPDATED: 9:49 pm CST November 25,
2008
Who will make up President-elect Barack Obama's economic team? Here are his nominees and what the roles entail.
Timothy Geithner - Secretary of the Treasury
This Cabinet position, currently held by Henry Paulson, is the head of the U.S. Department of the Treasury and is analogous to the finance ministers of other nations. According to the Treasury department's Web site, the Secretary of the Treasury is the principal economic advisor to the president and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government.
Lawrence Summers - National Economic Council director
The National Economic Council was established in 1993 within the Office of Policy Development and is part of the Executive Office of the president. It was created for the purpose of advising the president on matters related to U.S. and global economic policy. The current director of the NEC is Keith Hennessey.
Christina Romer - Council of Economic Advisors chairwoman
The Council of Economic Advisors includes three members who are appointed by the president. Their duties includes assisting and advising the president in the preparation of the Economic Report, as well as creating or furnishing studies relevant to economic policy and legislation. The current chairman of the CEA is Edward P. Lazear.
Melody Barnes - Domestic Policy Council director
The Domestic Policy Council coordinates the domestic policy-making process in the White House and offers policy advice to the president. The DPC also works to ensure that domestic policy initiatives are coordinated and consistent throughout federal agencies. Although the name has changed throughout the years, a domestic policy staff has existed in the White House since the 1960s. The current director of the Domestic Policy Council is Karl Zinsmeister.
Office of Management and Budget director - Peter Orszag
The Cabinet-level Office of Management and Budget oversees the preparation of the federal budget and supervises its administration in executive branch agencies. It is the agency that makes sure a president's priorities are translated into spending decisions. It is also is the largest office within the Executive Office of the President of the United States. Jim Nussle is the current OMB director.
Timothy Geithner - Secretary of the Treasury This Cabinet position, currently held by Henry Paulson, is the head of the U.S. Department of the Treasury and is analogous to the finance ministers of other nations. According to the Treasury department's Web site, the Secretary of the Treasury is the principal economic advisor to the president and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government.
Lawrence Summers - National Economic Council director The National Economic Council was established in 1993 within the Office of Policy Development and is part of the Executive Office of the president. It was created for the purpose of advising the president on matters related to U.S. and global economic policy. The current director of the NEC is Keith Hennessey.
Christina Romer - Council of Economic Advisors chairwoman The Council of Economic Advisors includes three members who are appointed by the president. Their duties includes assisting and advising the president in the preparation of the Economic Report, as well as creating or furnishing studies relevant to economic policy and legislation. The current chairman of the CEA is Edward P. Lazear.
Melody Barnes - Domestic Policy Council director The Domestic Policy Council coordinates the domestic policy-making process in the White House and offers policy advice to the president. The DPC also works to ensure that domestic policy initiatives are coordinated and consistent throughout federal agencies. Although the name has changed throughout the years, a domestic policy staff has existed in the White House since the 1960s. The current director of the Domestic Policy Council is Karl Zinsmeister.
Office of Management and Budget director - Peter Orszag
The Cabinet-level Office of Management and Budget oversees the preparation of the federal budget and supervises its administration in executive branch agencies. It is the agency that makes sure a president's priorities are translated into spending decisions. It is also is the largest office within the Executive Office of the President of the United States. Jim Nussle is the current OMB director.
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