« Money

Failure Begets Failure

by Seth Mela

Obama Nominates One of the Chief Architects of Stimulus Program, ‘Obamacare’ as Top WH Economist 

TheBlaze.com

President Barack Obama on Monday nominated longtime economic adviser Jason Furman as chairman of the president’s Council of Economic Advisers.

Furman, who the president referred to as “one of the most brilliant economic minds of his generation,” is more famously known as one of the chief architects of the president’s multi-billion stimulus program and the Affordable Care Act.


If confirmed by the Senate, Furman would replace Alan Krueger, who is returning to his former post as a professor at Princeton University. Obama praised Krueger, saying he’s driven by the principle that no full-time worker in America should be impoverished.

The council is one of two of the president’s main sources of economic advice. The other is the National Economic Council, where Furman currently serves as principal deputy director.

Furman’s research has been focused on fiscal and tax policy, Social Security and monetary policy. Furman, 42, worked as an economist in the Clinton White House and before that was a senior adviser at the World Bank.

The White House economic adviser was also one of the chief critics of the March 1 automatic spending cuts (“sequester”), warning loudly and often that the cuts to government spending would be disastrous.