New jobs plan next week

[luckytxn 2,265]

Obama picks labor expert Krueger as top economist

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Obama taps Krueger for top economist

10:32am EDTObama taps Krueger for top economist (02:12)

By Caren Bohan

WASHINGTON | Mon Aug 29, 2011 12:24pm EDT

(Reuters) - President Barack Obama, under pressure to spur job growth, said on Monday he had chosen Princeton labor economist Alan Krueger to become the top White House economist and that he will offer a jobs plan next week.

The selection signaled a fresh attempt by Obama to make good on his promise to focus on the U.S. economy and jobs with Americans deeply dissatisfied with his handling of those issues.

Krueger, an expert on unemployment, would succeed Austan Goolsbee as chairman of the White House Council of Economic Advisers.

With Krueger at his side in the Rose Garden, Obama said he would rely on the economist for "unvarnished recommendations" on how to bring down the 9.1 percent jobless rate and restore growth to the struggling U.S. economy.

Obama described creating jobs as an urgent challenge and said he will outline a plan next week to put more money in Americans' pockets and get construction crews working.

"Next week I will be laying out a series of steps that Congress can take immediately to put more money in the pockets of working families and middle class families, to make it easier for small businesses to hire people, to put construction crews to work rebuilding our nation's roads and railways and airports," he said.

This was a sign he will go ahead with plans to propose an extension of a payroll tax cut and will seek money for infrastructure improvements such as repairing bridges and roads as a way to get Americans working.

Republicans in Congress have taken a dim view of new stimulus spending, which means Obama could have trouble gaining bipartisan support for his plan.

"My hope and expectation is that we can put country before party and get something done for the American people," he said.

LABOR EXPERTISE

Obama's public approval ratings have fallen to around 43 percent, close to the lows of his presidency, amid anxiety over unemployment and lackluster economic growth, as he prepares to ask Americans for a second term in 2012.

Krueger's expertise in labor-market issues is in keeping with the administration's efforts to underscore a focus on jobs.

Goolsbee, one of Obama's longest-serving advisers, left the administration earlier this month to return to his teaching job at the University of Chicago. The departure was a blow for the White House as Goolsbee had been a high-profile spokesman on the economy.

"Alan understands the difficult challenges our country faces, and I have confidence that he will help us meet those challenges as one of the leaders on my economic team," Obama said.

Krueger served in the Obama administration as a Treasury Department economist but left that job to return to Princeton last fall.

The nomination requires Senate confirmation but Krueger has an advantage because he has gone through the confirmation process before for his Treasury job.

At Treasury, Krueger was assistant secretary for economic policy and chief economist. He is also a veteran of President Bill Clinton's administration, serving as chief economist for the Department of Labor from August 1994 to August 1995.

Krueger holds a Bachelor of Science degree in industrial and labor relations from Cornell University. He earned his PhD in economics at Harvard University.

While at Princeton, Krueger was a regular contributor to the Economic Scene column in The New York Times.

Krueger has written extensively on unemployment and the effects of education on the labor market.

If confirmed as CEA chairman, Krueger would be the third person to hold that post under Obama. Obama's first CEA chairman, Christina Romer, left the post a year ago to return to the University of California, Berkeley.

[luckytxn 2,265]

Wow.

What is he gonna do when he has to debate next year and have no teleprompter?

hree minutes, two telepromptersbyHayley Peterson Examiner Staff WriterFollow on Twitter:@hcpeterson

Obama announces that he will appoint Alan Krueger to replace Austan Goolsbee as chairman of the White House Council of Economic Advisers. Photo by Hayley Peterson.

President Obama required two heavy-duty teleprompters on Monday during a three-minute speech in which he nominated Alan Krueger to serve as chairman of his Council of Economic Advisers.

"I am very pleased to appoint Alan and I look forward to working with him," Obama said, staring at the large, flat-screen monitor to his right, then shifting his eyes to the teleprompter on his left. "I have nothing but confidence in Alan as he takes on this important role as one of the leaders of my economic team."

Krueger stood silently to the right of Obama as the president spoke. Krueger will replace Austan Goolsbee, who recently stepped down as chairman of the White House Council of Economic Advisers. A professor at Princeton University, Krueger served two years in the U.S. Treasury Department under Obama. He also served as chief economic adviser for the Labor Department during the Clinton administration.

Obama did not give Krueger a chance to make any comments on Monday.

[Bad_Daddy 2,209]

Obama is getting desperate.

[slim 1,533]

I like how their jobs thing is right AFTER labor day.

[Bad_Daddy 2,209]

I like how their jobs thing is right AFTER labor day.

[mawilson 2,133]

Obama picks labor expert Krueger as top economist

[peejay 327]

I wonder how far the stock market drops when the Big Cheese unvails this latest policy offering?

[Gary and Alla 3,694]

Oh thank goodness!

[Leatherneck 693]

Sounds like more of the same, will he really have anything new to say? Maybe he should ask the Chinese how to create jobs.

[luckytxn 2,265]

Guess he could always just start pleading and begging that companies start hiring before the elections.