The Hill’s Blog Briefing Room » Volcker to Head Special Obama Economic Panel


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November 26, 2008

Volcker to Head Special Obama Economic Panel

@ 9:11 am by Hill Staff

Former Federal Reserve Chairman Paul Volcker will head a new advisory panel to President-elect Barack Obama that will help stabilize the financial markets and lead the U.S. out of recession, the Wall Street Journal reported Wednesday.

Volcker, who had been rumored as a potential pick for Treasury Secretary before Obama chose Timothy Geithner, will head the panel, meant to garner outside input on economic issues and advise the administration.

The panel is modeled on a Cold War-era panel established by President Dwight Eisenhower,� the Journal reported, and Volcker will serve as a policy counterweight to Lawrence Summers, the designated head of the National Economic Council.

-Michael O'Brien

Archived under: Administration, News

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Regardless who is in charge of treasury, we are in for a number of difficult years, even with a distinguished economic adviser like Paul Volker. One "stimulus" package that would serve multiple purposes that President Obama should consider is the Trans-Global Highway, proposed by Frank X. Didik a number of years ago. The project would create thousands of jobs, but equally important, it would provide a path to the future in terms of trade and mutual global trust. According to Didik, the proposed "highway", which would contain roads, rail roads, water, oil and gas pipes as well electric and communication cables. The highway would use and standardize the existing road networks and build new roads as well as a number of key tunnels. Interestingly, the longest Tunnel in the proposal, would still be shorter than the longest existing tunnel today. It would seem that there are many advantages to the construction of the Trans Global Highway including vastly lower cost and faster shipping, better allocation of resources, the ability of utilizing raw materials and much lower carbon emissions, than the existing transportation system. The highway would open up a new era of international cooperation. The Trans-Global Highway site is located at http://www.TransGlobalHighway.com

Comment by Dave — December 2, 2008 @ 12:47 pm

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November 26, 2008

Volcker to Head Special Obama Economic Panel

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