Obama Chooses Economic Team for 'Historic' Crisis

Obama Chooses Economic Team for 'Historic' Crisis
Among those chosen: Tim Geithner for Treasury, Larry Summers for the White House and Paul Volcker for a new economic recovery advisory board. Transcript of radio broadcast:
26 November 2008

This is the VOA Special English Economics Report.

President-elect Barack Obama named the top members of his economic team in a series of announcements this week in Chicago, Illinois. His nominee for secretary of the Treasury is Tim Geithner, president of the Federal Reserve Bank of New York for the past five years. Mister Geithner has been working to rescue companies affected by the financial crisis. He has also worked as undersecretary of the Treasury Department for international affairs.


The top economic adviser in the White House will be Larry Summers. He was President Clinton's last Treasury secretary, at the same time that Tim Geithner was undersecretary. The former Harvard University president will lead the National Economic Council. That position does not require Senate approval.
But confirmation is required for the director of the Council of Economic Advisers. Mister Obama's choice to lead that group is Christina Romer. She is an economist and economic historian at the University of California, Berkeley.

The nominee to lead the Office of Management and Budget in the White House is Peter Orszag, until now the director of the Congressional Budget Office.

And Mister Obama announced the creation of a President's Economic Recovery Advisory Board. Paul Volcker will lead the new board. He was Federal Reserve chairman during most of the nineteen eighties.

The president-elect is working with Democratic leaders in Congress on an economic recovery plan. Spending and tax cuts might cost five hundred billion dollars or more. But Mister Obama says: "We are facing an economic crisis of historic proportions."

The goal for the stimulus plan is to save or create two and one-half million jobs over a period of two years. Congressional leaders hope to have the plan ready for the new president to sign shortly after he takes office on January twentieth.

The government has already promised trillions of dollars in loans, guarantees and investments to rescue the economy. At the same time, Barack Obama says the government must cut wasteful spending from the three trillion dollar federal budget. As he promised during the campaign, he said he will direct his new budget team to go through the budget page by page and line by line.

And that's the VOA Special English Economics Report. For the latest developments in the financial crisis, go to voaspecialenglish.com. I'm Steve Ember.


----------------------------Google Translate

奥巴马选择经济小组'历史'危机
在这些选择：提姆盖特纳为财政部，萨默斯为白宫和保罗沃尔克一个新的经济复苏咨询委员会。全文电台广播：
08年11月26日

这是美国之音特别英语经济学报告。

当选总统奥巴马命名顶端成员的经济班子的一系列通知本星期在伊利诺斯州芝加哥市。他提名的财政部长是蒂姆盖特纳总裁联邦储备银行纽约在过去的5年。盖特纳先生一直致力于拯救公司受到金融危机影响。他还担任副财政部负责国际事务的副部长。


的首席经济顾问在白宫将萨默斯。他是克林顿总统的财政部长去年，在同一时间，蒂姆盖特纳是副。前哈佛大学校长将导致国家经济委员会。这一立场并不需要参议院的批准。
但是，确认所需的主任的经济顾问委员会。先生奥巴马的选择，导致该集团是克里斯蒂娜罗默。她是一名经济学家和经济史学家在加州大学伯克利分校。

被提名人带领管理和预算办公室在白宫是彼得扎格，直至现在的主管国会预算办公室。

和先生奥巴马宣布成立一个总统的经济复苏咨询委员会。保罗沃尔克将导致新的董事会。他是美国联邦储备委员会主席期间大部分19个世纪八十年代。

当选总统正在与民主党领袖在国会就经济复苏计划。开支和减税可能成本5000.0亿美元或更多。但奥巴马先生说： “我们正面临经济危机，历史性的。 ”

的目标刺激计划是保存或创建两年半多万个就业岗位，为期两年。国会领导人希望该计划准备新总统签署后不久，他的办公室于1月20 。

政府已经承诺万亿美元的贷款，担保和投资，以拯救经济。与此同时，奥巴马说，政府必须减少浪费开支从3万亿美元的联邦预算。正如他所承诺在竞选期间，他说，他将指示他的新的预算小组，通过预算逐页和一行行。

，这是美国之音特别英语经济学报告。最新的事态发展，金融危机，去voaspecialenglish.com 。我史蒂夫余烬。