Barack Obama's Economic Team
Barack Obama is a legitimate presidential candidate. If this wasn't clear before, it was certainly clear after he announced he had raised $25 million in campaign contributions, putting him just $1 million behind seasoned fundraiser Hillary Clinton. Having the support of hedge fund legends George Soros and Paul Tudor Jones certainly hasn't hurt either. But, until recently Obama hasn't revealed much about his economic policies. To be perfectly honest his entire domestic policy agenda is largely unknown. Even a thorough analysis of speeches, interviews and his congressional voting record reveals very little substance (some information can be obtained from his website.) I feel the Wall Street Journal described it best when they said he is best known for "his biography, his charisma and his early opposition to the Iraq war."
In his defense, Obama's fundraising ability and charisma has meant that he hasn't had to take strong policy positions thus far, and this will undoubtedly work in his favor as he surveys his opposition and his voter base and develops policies that could place him in the oval office. For now, one of the only ways we can evaluate where Obama will land on the political spectrum is to evaluate the economists he has added to his team. Atop his economic team are star Chicago Economist Austan Goolsbee and two Harvard professors who served on Bill Clinton's economic team, Jeff Liebman and David Cutler. At first blush this is an accomplished and experienced team. Because health care is such an important Democratic issue it is not surprising that Obama will lean heavily on Cutler. Cutler's outstanding research background and his political experience make him a crucial part of a team that will have to come up with a health plan that, as Obama pledged, will "have all individuals covered by the end of his first term." Expect more information on Obama's policies to emerge in the weeks ahead. The first Democratic debate is this Thursday evening.
Below is more detail on the team (click to enlarge):
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