Obama’s Economic Advisor speaks!

Austan Goolsbee, Senator Obama’s senior economic advisor, was on Marketplace this morning talking about Obama’s economic plans. I was a little surprised that he is in favor of “some kind of stimulus,” but I guess right now you can’t be otherwise.

I love the idea of investing in college affordability and work skills and of someone in Obama’s cabinet that is willing to be critical of the loopholes in tax and trade policies for the already massively wealthy (that’s my paraphrase).  Go Austan!
Full Disclosure: Austan is my colleague at the American Bar Foundation and one of the funniest people I know though he sounds very serious in this interview. 

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4 Responses to Obama’s Economic Advisor speaks!

  1. hegemonhobbes says:

    Why were you surprised that he was for a stimulus package?

  2. laurabethnielsen says:

    Good question. I am not sure, actually. I thought it was more controversial and that lots of economists – especially those more to the left – thought it was too much of a drop in the bucket to really help. Not being an economist myself, I really should have no opinion on this.

    Although, if we are going to have one (and it seems we are), I like the idea of the Senate version that includes $ to unemployed and poorer folks because, after all, aren’t they likely to go right out and spend it? Don’t we thinkt hey have the most pressing unmet needs? So if it is really for stimulus, I think they would be the most stimulating groups to give it to.

  3. vickywoeste says:

    He’s in favor of a stimulus because, as he says, he’s an *economist.* He believes in Keynesian economics. He thinks if we give middle class people some money, they will spend it. Spending money keeps the economy from nosediving into a recession. I doubt it’s that simple but you’d think it is from the way it’s been discussed in the press all week.

    The Senate package won’t get passed in its initial form. The Rs don’t want to give back the unemployment benefits they got to take out of the House bill. But maybe the Senate Ds have something to offer that’s better.

  4. dspett says:

    Yes, the Senate plan is indeed better but looks sure to fail. And why is Obama so stuck on tax cuts? How about… support for ailing state and local governments? Initiatives to encourage alternative energy use? This column implies Obama prefers the House plan, whereas Clinton and (fmrly.) Edwards would want a plan more like the Senate’s:

    http://www.nytimes.com/2008/01/14/opinion/14krugman.html

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