Saturday, August 27, 2016 4:24:15 PM
Economists Who’ve Advised Presidents Are No Fans of Donald Trump
In a WSJ survey, no former members of the White House Council of Economic Advisers—spanning eight presidents—openly support Mr. Trump
By Ben Leubsdorf and Eric Morath and Josh Zumbrun
Aug 25, 2016 10:47 am ET
(imbedded links omitted)
Republican presidential nominee Donald Trump, who has broken with many of the GOP’s traditional positions on economic policy, garners no support from any of the White House economists who have advised U.S. presidents for the past half-century.
The Wall Street Journal this month reached out to all 45 surviving former members of the White House Council of Economic Advisers under the past eight presidents, going back to Richard Nixon, to get their views on this year’s presidential election.
Among 17 Republican appointees who responded to Journal inquiries, none said they supported Mr. Trump. Six said they did not support Mr. Trump and 11 declined to say either way. An additional six did not respond to repeated messages. Among the 21 Democrats who responded to the Journal, 14 said they supported Mrs. Clinton, none said they opposed her and seven declined to say either way. One Democratic appointee didn’t respond to messages.
Larry Kudlow, a conservative commentator and economic analyst who serves as an informal adviser to the Trump campaign, said Thursday that the New York businessman “has a pretty darn good roster of economists who support his policies and particularly support his tax-reform policies,” coming from outside the ranks of former council members.
Mr. Trump says he wants a “major tax cut” and has expressed hostility toward free-trade agreements, promising a sharp shift in U.S. trade policy that the campaign says would revive U.S. manufacturing. Earlier this month, he announced an economic policy advisory council drawn heavily from real estate and finance executives.
“It’s not as though he’s going through this without any expert advice,” Mr. Kudlow said.
Some former council members in the survey expressed unease about the anti-free trade policies espoused by both candidates.
“I have known personally every Republican president since Richard Nixon,” said Harvard University economist Martin Feldstein, who chaired the council under President Ronald Reagan. “They all showed a real understanding of economics and international affairs….Donald Trump does not have that understanding and does not seem to be concerned about it. That alone disqualifies him in my judgment.”
Most Democratic economists were vocal about their support for Mrs. Clinton. “I believe she is the most qualified candidate in terms of temperament, intelligence, leadership and policy prescriptions,” said University of California, Berkeley, economist Christina Romer, who chaired the council under President Barack Obama.
The three-member council, which was established after World War II, advises the president on economic policy. Service on the council can be a stepping stone to senior policy-making positions. Alan Greenspan, Ben Bernanke and Janet Yellen all chaired the council and later led the Federal Reserve.
Economists and the Presidential Candidates
What economists who have served in the White House say about Donald Trump and Hillary Clinton
1 of 7...
[...]
http://blogs.wsj.com/economics/2016/08/25/economists-whove-advised-presidents-are-no-fans-of-donald-trump/
In a WSJ survey, no former members of the White House Council of Economic Advisers—spanning eight presidents—openly support Mr. Trump
By Ben Leubsdorf and Eric Morath and Josh Zumbrun
Aug 25, 2016 10:47 am ET
(imbedded links omitted)
Republican presidential nominee Donald Trump, who has broken with many of the GOP’s traditional positions on economic policy, garners no support from any of the White House economists who have advised U.S. presidents for the past half-century.
The Wall Street Journal this month reached out to all 45 surviving former members of the White House Council of Economic Advisers under the past eight presidents, going back to Richard Nixon, to get their views on this year’s presidential election.
Among 17 Republican appointees who responded to Journal inquiries, none said they supported Mr. Trump. Six said they did not support Mr. Trump and 11 declined to say either way. An additional six did not respond to repeated messages. Among the 21 Democrats who responded to the Journal, 14 said they supported Mrs. Clinton, none said they opposed her and seven declined to say either way. One Democratic appointee didn’t respond to messages.
Larry Kudlow, a conservative commentator and economic analyst who serves as an informal adviser to the Trump campaign, said Thursday that the New York businessman “has a pretty darn good roster of economists who support his policies and particularly support his tax-reform policies,” coming from outside the ranks of former council members.
Mr. Trump says he wants a “major tax cut” and has expressed hostility toward free-trade agreements, promising a sharp shift in U.S. trade policy that the campaign says would revive U.S. manufacturing. Earlier this month, he announced an economic policy advisory council drawn heavily from real estate and finance executives.
“It’s not as though he’s going through this without any expert advice,” Mr. Kudlow said.
Some former council members in the survey expressed unease about the anti-free trade policies espoused by both candidates.
“I have known personally every Republican president since Richard Nixon,” said Harvard University economist Martin Feldstein, who chaired the council under President Ronald Reagan. “They all showed a real understanding of economics and international affairs….Donald Trump does not have that understanding and does not seem to be concerned about it. That alone disqualifies him in my judgment.”
Most Democratic economists were vocal about their support for Mrs. Clinton. “I believe she is the most qualified candidate in terms of temperament, intelligence, leadership and policy prescriptions,” said University of California, Berkeley, economist Christina Romer, who chaired the council under President Barack Obama.
The three-member council, which was established after World War II, advises the president on economic policy. Service on the council can be a stepping stone to senior policy-making positions. Alan Greenspan, Ben Bernanke and Janet Yellen all chaired the council and later led the Federal Reserve.
Economists and the Presidential Candidates
What economists who have served in the White House say about Donald Trump and Hillary Clinton
1 of 7...
[...]
http://blogs.wsj.com/economics/2016/08/25/economists-whove-advised-presidents-are-no-fans-of-donald-trump/
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