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Hillarysworld -> Hillarysworld Main room -> White House Loses Two Top Economic Advisors (Wall St. Journal 11/22/10)
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TOPIC: White House Loses Two Top Economic Advisors (Wall St. Journal 11/22/10)
Jen the Michigander


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White House Loses Two Top Economic Advisors (Wall St. Journal 11/22/10)
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http://online.wsj.com/article/SB10001424052748703904804575631191194908962.html

Two more of the Obama administration’s top economic advisers are departing at a time when the White House is facing growing opposition to their economic policies on Capitol Hill.

White House National Economic Committee Deputy Director Diana Farrell and Treasury Department Assistant Secretary for Financial Institutions Michael Barr are both planning to leave within weeks, people familiar with the matter said.

In another key move, White House senior adviser David Axelrod plans to leave in late January or early February, at least a month earlier than expected. He had previously said he would leave in early spring to begin assembling Mr. Obama’s re-election campaign. Mr. Axelrod’s departure will hasten the arrival of David Plouffe, who managed the president’s 2008 campaign and will take a senior adviser position at the White House.

Hmm, I wonder what that's all about?

Both Ms. Farrell and Mr. Barr played central roles in the Obama administration’s response to the financial crisis, acting as lead architects of the financial regulation overhaul law that President Barack Obama signed into law in July.

“I am deeply grateful for the opportunity to serve President Obama and the country and proud of the progress we’ve made toward rebuilding trust in our financial system and moving our economy closer to recovery,” Ms. Farrell said in a written statement. “It was a privilege to work with such a fine group of people at the White House and across the administration.”

A Treasury spokesman said Mr. Barr is leaving Treasury for family reasons and to continue his academic career. He is expected to return to the University of Michigan Law School.

Ms. Farrell’s departure would mark the second high-profile official in the economic committee to leave in December. Its director, Lawrence Summers, is also stepping down next month, giving the Obama administration the chance to remake a body that plays a lead role in formulating economic policy and communicating with businesses.

Turnover halfway through an administration is fairly typical, and Mr. Barr and Ms. Farrell were considered likely candidates to depart because they helped push the financial overhaul into law.

Still, their exits will attract attention given high unemployment rates and demands the White House do more to promote economic growth. Many Republicans have said their gains in the mid-term elections are recognition from voters that Americans want policies that encourage smaller government and less spending.

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reddirtgirl


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Its director, Lawrence Summers, is also stepping down next month, giving the Obama administration the chance to remake a body that plays a lead role in formulating economic policy and communicating with businesses

They make all this turnover sound like a GOOD thing, like it's what they want, when it's apparent the WH is falling apart.

 



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Jen the Michigander


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Very true, if we were really at the beginning phase of an economic recovery, all those people would want to stick around so they can get the credit when their little seeds bloom into pretty posies.

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Building 4112


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The only one planting seeds in the WH is Michelle.

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