Friday, February 24, 2017
Trump to Name Apologist for the Republican Establishment Welfare State to Head the Council of Economic Advisers
Kevin Hassett, an economist at the American Enterprise Institute, will be named chairman of the White House Council of Economic Advisers, Politico is reporting.
Hassett is mostly known for co-authoring the embarrassing book, Dow 36,000, forecasting the Dow reaching 36,000 just months before the dot-com bubble burst. In other words, he is clueless about the business cycle.
This did not stop him from getting presidential advisory gigs.
He was John McCain's chief economic adviser in the 2000 presidential primaries and an economic adviser to the campaigns of George W. Bush in the 2004 presidential election and McCain in the presidential election of 2008. He was among Mitt Romney's economic advisers for the 2012 presidential campaign. He also was an economist at the Federal Reserve.
Consider him a government apologist and technocrat, who will dress up his welfafe-state policy advocacy while wearing conservative sheep's clothes.
In 2013, he testified before the Joint Economic Committee of Congress, arguing for a variety of policies to assist the long-term unemployed, including direct hiring of the unemployed into government jobs, work-sharing programs, wage subsidies, and privatized training programs.
Expect him to support whatever Trump wants, regardless if it makes economic sense or not.
Sources: MarketWatch, Politico, Wikipedia, The Washington Post
at 4:37:00 PM