President Obama has picked economic guru Alan Krueger to be a part of the White House Council of Economic Advisers. Will he be able to keep the economy from taking a turn for the worse, becoming as scary as a scene on A Nightmare on Elm Street?
Thanks to my super ninja skills, I was able to take a photo of a draft of Mr. Krueger's resume. Take a look:
Impressive, huh? But word around the hood is, aside from his numerous credentials, President Obama picked my homeboy Alan because he has showed a lot of devotion in studying employment. For instance, his research on minimum wages, in which he says that raising the minimum threshold for wage doesn't necessarily equate to a reduction in jobs, impressed a lot of economic gurus.
He also knows how the government works, having previously held two government-related posts before. More importantly, it seems like Mr. President is convinced that Alan Krueger will carry out his tasks based on what he thinks is best for the country and not what's based on his political interests.
As chairman of the White House Council of economic advisors, Krueger is tasked with analyzing data and suggesting economic policies to President Obama. Although most of his duties are behind the scenes, he will also act as a spokesperson of the council from time to time.
Since Krueger is an expert on labor issues, Obama is counting on him to come up with a solution for the nation's employment problems. If you've been keeping tabs on the latest U.S. employment figures, you'd know that the jobless rate still sits at an unbearable 9.1%, causing many to conclude that Obama was unable to fulfill his promise of job creation.
Now that can't be too good considering Obama is running for re-election. Republicans are already giving him a lot of flak for the weak labor market and it seems like the President is scrambling to come up with a quick fix, possibly with the new jobs package he's set to unveil next week.
With that, many are speculating that Krueger's nomination is merely a last-ditch political move. Bear in mind that U.S. senators have yet to approve this appointment, which could make room for a lot of heated debates in Senate. And let's not forget the NFP data due before the end of the week, which could show a smaller increase in hiring for August. Can Krueger get the job done and heal the U.S. jobs market?