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Obama Nominates New Economic Adviser

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    What will Alan Krueger bring to table?

  • Duration 3:53
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But He just heard President Obama today nominating Princeton university's Alan Krueger to be chairman of the white house council of economic advisors.

-- for more on what this means we're joined by the Wall Street Journal Simon constable says Simon when you first hear this name.

We think.

Well what I first thought was this is gonna be the worst job in America I know a lot of who want jobs is gonna there's got to be -- -- -- The economy is so fat and -- you know it's it's weak and it's slowing down.

So he's part of a group of people would not advise the president on how to get the economy is zeroed out right He could He could take.

But it's going to be -- all the way this isn't -- the mid nineties where it was just a matter of keeping this momentum going.

This is you've got to basically turn around and slowing momentum and it's of it's it's a big jump.

They've been playing up and I say today.

May be just the press in general some legal playing up the fact that he's a labor -- what exactly.

I does that mean an -- and what skills as He bring to the table that maybe aren't there right now.

I'm I think they're all other people who have -- -- economics backgrounds what I think He -- He brings is that he's worked within.

I'm government before He worked for the treasury department's so he's -- known to them.

What needs to be a labor economist just understand the dynamics of the landmark and what makes company's -- And fire line often and and grow on all sorts of things the one thing that this will probably too that I thought I think -- -- problem is it.

And probably lean towards more government more government involvement.

The government doing more spending righty had a hunch I'm.

Well Bob public is one of our -- our key righteous the Wall Street Journal whose whose roots broke this story that it Wessels.

On the has -- has sort of talk with the administration and engine and that and knows that.

So that's silly things coming on the pipeline will we hear that the president is going to be announcing -- new jobs plan according to what you you've been hearing from your own team here at the Wall Street Journal web.

That -- putting putting the dots together back could mean you know -- shovel ready projects and stuff like let's look at his background -- He didn't number -- into the cash for clunkers thing.

How many He did He introduced this this guy -- was involved in introducing tax incentives to encourage employers to hire the employed so that's in and that's sort of fact or spending.

I'm basically in this.

Tasteless some would say though -- it's good that he's not part of the private sector are certain segment would say that because then he's not.

Well he's not gonna be moved by special interest he's an economies He knows -- a city the economy do the right thing.

So I'm and that that's suddenly valleys -- a great Diana I haven't -- them on -- spoken to him.

But the other way -- look at is look we've got lots of academics on the council of economic advisors.

And putting another academic in is that no change to usual.

And if you want no change -- usual that's fine but I want some I think most people in this country want a change to what's going on in the economy they want change.

Change for the -- and may be will be -- didn't say okay we've tried the academic approach.

We've tried a Princeton economist in the fact that -- -- OK maybe not so great.

Another Princeton economist maybe do we really need that.

Member of the council of jobs and competitiveness is headed by the head of GE -- involved -- there's a whole slew of CEO's there.

Right in Xerox.

Intel American Express that are part of that forces seems like the private sector has been invited into the White House but what you're saying it doesn't seem like they they join the party really.

They haven't on the body and something on the council of economic advisor and -- -- -- wearing today I think that would be a good place for today because it you know you can have all the business people.

-- in involved in the process inside Washington DC but if the people who happen if the president his economic advisors and that's that what that I -- don't include business people or don't include a pretty loud business voice I don't know that it gets through.

-- -- -- -- -- -- Again pending congressional approval and this -- be the new team that the president has and like I said I'm sure this -- a lovely lovely man I think the scope of the worst to jolt in the world right now.

Why wouldn't.

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