**JULY 20, 2020**

Kuttner on TAP

Two Economic Ideas for Biden

****

Not all big decisions are on policy. How you structure your presidency
is just as important, since it dictates your policy path.

First, get rid of the National Economic Council. It was created by Bill
Clinton as a power perch for Robert Rubin. The post was later held under
Obama by Larry Summers. The idea was always malarkey that the head of
the NEC would merely be an honest broker sifting alternatives for the
president. The director of the NEC is where the power resides.

The NEC has crowded out the very useful role of the older Council of
Economic Advisers (CEA) as a direct source of expert advice to the
president. NEC chairs have treated the CEA as merely technicians.

The NEC has also created power struggles with other Cabinet officials,
and given Wall Street yet another seat at the table. Not helpful.

Second, pay very close attention to whom you name to the key economic
Cabinet power posts. Those would be the secretaries of Treasury,
Commerce, Labor, U.S. trade representative, and budget director.
Typically, Democratic presidents find a Wall Streeter to lead Treasury,
a business mogul to head Commerce, and a deficit hawk at OMB.

Obama named Tim Geithner to the former and billionaire Penny Pritzker to
the latter. The trade job has also typically gone to someone who is in
the tank for Wall Street and the hyper-globalization lobby-Mike Froman
under Obama. Labor is treated as a second-tier job. So the battle for
progressive economic policies is over before it starts.

If Biden wants to be as good as his recent, very progressive words, he
needs to change these patterns of political capture. Elevate labor
secretary. Name a Treasury secretary committed to reining in Wall
Street, not enabling it. Find a commerce secretary who believes in
industrial policy; and a trade rep who really believes in the great
statement Biden put out on rebuilding domestic manufacturing.

At the end of the day, when an administration takes shape, campaign
policy papers don't matter. Personnel does.

~ ROBERT KUTTNER

Follow Robert Kuttner on Twitter

Robert Kuttner's latest book is
The Stakes: 2020 and the Survival of American Democracy
.

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