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Thursday, November 25, 2010
Sunday, November 14, 2010
Obama Economic Advisers Ask resigns
Former Minister of Finance of the United States (U.S.), Lawrence Summers, decided to resign as senior economic adviser to President Barack Obama. She says it wants to go back to teaching at Harvard University after his retirement from the White House.
Summers's resignation will take effect at the end of this year. The news was first revealed by news agency Bloomberg, Tuesday, September 21, 2010. In a written statement, Summers said happy to have worked with Obama and his team of economic advisers at the White House, but he chose to return as a lecturer at Harvard as well as plans to write scientific papers about the fundamentals for job creation.
Obama expressed thanks for the dedication Summers in a period of more than a year as counselors. "Although still much work we had to do to fix damage caused by the recession, but we are now in a better path thanks to Larry's role providing wise advice," Obama said.
Decision of the resignation of former finance minister Bill Clinton's presidency era came as the Obama administration struggling U.S. economy recover from recession. According to a survey of the National Bureau of Economic Research (NBER), the last recession lasted from December 2007 to June 2009.
Although separated from the last recession, the U.S. would have to be aware of the potential of the next recession. According to the NBER data, although the U.S. economy grew by 5 percent in the last quarter of 2009, the rate of gross domestic product (GDP) in the first quarter 2010 so slow to 3.7 percent and continued to decline to 1.6 percent in the second quarter of this year.
The unemployment rate in the U.S. is still high at 9.6 percent of the total population. This is the highest unemployment rate in more than 20 years
Since Obama became president in January 2009, Summers is the third senior official from the economic team at the White House who resigned. Two other officers are White House Budget Director, Peter Orszag, and Christina Romer, who choose to retire as chairman of the Council of Economic Advisers. They both have quit a few months ago.
Summers's resignation will take effect at the end of this year. The news was first revealed by news agency Bloomberg, Tuesday, September 21, 2010. In a written statement, Summers said happy to have worked with Obama and his team of economic advisers at the White House, but he chose to return as a lecturer at Harvard as well as plans to write scientific papers about the fundamentals for job creation.
Obama expressed thanks for the dedication Summers in a period of more than a year as counselors. "Although still much work we had to do to fix damage caused by the recession, but we are now in a better path thanks to Larry's role providing wise advice," Obama said.
Decision of the resignation of former finance minister Bill Clinton's presidency era came as the Obama administration struggling U.S. economy recover from recession. According to a survey of the National Bureau of Economic Research (NBER), the last recession lasted from December 2007 to June 2009.
Although separated from the last recession, the U.S. would have to be aware of the potential of the next recession. According to the NBER data, although the U.S. economy grew by 5 percent in the last quarter of 2009, the rate of gross domestic product (GDP) in the first quarter 2010 so slow to 3.7 percent and continued to decline to 1.6 percent in the second quarter of this year.
The unemployment rate in the U.S. is still high at 9.6 percent of the total population. This is the highest unemployment rate in more than 20 years
Since Obama became president in January 2009, Summers is the third senior official from the economic team at the White House who resigned. Two other officers are White House Budget Director, Peter Orszag, and Christina Romer, who choose to retire as chairman of the Council of Economic Advisers. They both have quit a few months ago.
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