Obama Choice of Daley to Focus Staff on Economy. Yes, President Barack Obama announced the appointment of Bill Daley as the new White House chief of staff. He is sixty-two years of age and will take charge of talking to the media as representative of President Obama, especially about economic matters. He has a background in politics as the son of Richard J. Daley, the man who was mayor of Chicago for twenty-one years. His brother, Richard now serves as mayor of Chicago.
Daley has both political and business ties. He is on the executive committee of JPMorgan Chase & Co. He led the presidential campaign when Al Gore ran for the presidency and is a member of the Boeing board of directors. Republicans and Democratic business leaders endorse this appointment.
Gene Sperling is appointed by the president to lead the National Economic Council. He has served in that position before. When Bill Clinton was president, Sperling held the same position. One of the things he fought for at that time was raising the visas issued to 195,000 as a maximum. Currently the maximum is 85,000. This H-IB visa gave an advantage to businesses that did offshore outsourcing.
This encourages the shifting of jobs to countries overseas. How Sperling will handle this issue and the H-IB visa is not foreseen. It is up to him to create a solution that will satisfy both the U. S. Labor Department and the companies that do the outsourcing.
Secretary Timothy Geithner, as leader of the National Economic Council, will concentrate on improving the economic recovery. His background as an economist and banker precedes his career as a civil servant. He has also served as President of the Federal Reserve Bank of New York.
His goals will include restructuring the financial system and nourishing the continuing recovery of the automotive industry. Tax changes will also be in the works. He will negotiate with foreign leaders to promote economic improvements. The new appointees are devising ways to further rejuvenate the economy. The staggering amount the national debt has risen to will also be a major concern,
The new appointees, Daley and Sperling have working relationships with members of Congress from both Democratic and Republican contingencies. They also have relationships with labor groups and big business. These business relationships were reported by anonymous sources. Daley is endorsed by the Business Roundtable and the U. S. Chamber of Commerce, located in Washington, D. C.
Daley was described as a potentially beneficial chief of staff by Senate Republican leader, Mitch McConnel. He praised his experience in corporate America. His position as president of SBC Communications and member of the executive directors board at Boeing were both successful. He has been at JPMorgan since 2007. On the detrimental side, he was a board member of Fannie Mae, which is responsible for many people losing their homes to foreclosure. Fannie Mae and Freddie Mac approved ill-advised loans, which led to the mortgage crisis.
It is the expectation that Daley will resign from his position at JPMorgan & Chase. We can expect him to turn his attention to the financial problems at hand. President Obama made a wise choice as far as the opinions of top leaders from both political parties are concerned. He will be elucidating his views on the major news shows to outline a workable plan to deal with jobs and the national debt. Evelia K. Roskovensky
If you’re interested in online trading on that stock market, we have some good techniques that will help you out. These techniques will help to make you successful in your life.