President Obama appoints new Director of the National Economic Council

[News_Editor]

President Obama appoints new Director of the National Economic Council

2011-01-08 05:09:56 GMT+7 (ICT)

WASHINGTON D.C. (BNO NEWS) -- U.S. President Barack Obama on Friday announced the appointment of Gene Sperling as Director of the National Economic Council (NEC).

Sperling has been working in the Obama administration for the past two years and helped in the efforts to pass the small business jobs bill to help companies all across America and negotiate the tax compromise passed at the end of last year.

This would be the second tenure of Sperling in the NEC. During the Clinton Administration, he helped formulate the policies that contributed to turning deficits to surpluses.

"Few people bring the level of intelligence and sheer work ethic that Gene brings to every assignment he’s ever taken. And few do so with such decency and integrity," said Obama. "Gene has been an extraordinary asset to me and this administration over the past two years."

In addition, the U.S. leader promoted Jason Furman to be principal deputy at the National Economic Council. Furman has been advising Obama on a range of economic issues for two years.

"I've relied on Jason’s advice and expertise on a range of economic issues, from helping design the emergency steps we took to prevent our economy from sinking into a second depression, to most recently passing the tax cut compromise," added the President.

Obama also nominated Heather Higginbottom to serve as deputy director of the Office of Management and Budget. Higginbottom is currently the deputy director of the Domestic Policy Council.

Finally, President Obama nominated Katharine Abraham to the Council of Economic Advisers. Abraham was a commissioner of the Bureau of Labor Statistics during the Clinton administration.

The U.S. President said that this team would be working on maximizing the steps taken to spur the economy, allowing businesses to immediately deduct the entire cost of certain investment and other tasks to strengthen the nation's economy.

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