Sunday, November 28, 2010

Remake of Obama Economic Team Broadens Scope


President Obama is going to bring in new blood to his economic team. A number of his economic team officials are departing, which provides him with a broader scope, suggested by New York Times. Michael S. Barr, the Assistant Treasury Secretary, Diana Ferrell, the deputy director of National Economic Council, David Axelrod, the sernior adviser of the oval office, just to name a few, are leaving by the end of next year. The major problem, according to Los Angeles Times, is the ineffective communication in White House. Administration officials of Obama's economic team lack of agreement on economic fundamentals, admitted by President Obama to Los Angeles Opinion writer Wolffe. Wolffe suggested that this lack of common ground in West Wing led to the question whether today's high unemployment rate structural or cyclical remain unsolved.

I think even though the answer to this question is important, but having a common comprehension/ answer to this question is even more important, no matter what the answer is. A unified answer would allow the government to make policies under a same base and belief. Every policy takes time to show results. Even if we implement a policy to not accurately subject to the problem, if we draw the wrong answer to the question, it will still solve minor economic problems. In addition, if the number of people benefiting from these minor economic growth is large enough, a big impact on domestic economic improvement will emerge. However, if we leave the question controversial within the central government, there will be no way to make a policy targeting at a unified problem. Policies will be scattered, and what's worse, these policies might even counteract with each other.

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