I’m no fan of the American Enterprise Institute, the most prominent neoconservative think tank. However, I can’t deny that the chart below explains a lot of the economic guessmanship coming out of the Obama White House.
The chart, from a J.P. Morgan research report, includes the Cabinet officials that a president would turn to for advice on the economy, the secretaries of State, Commerce, Treasury, Agriculture, Interior, Labor, Transportation, Energy, and Housing & Urban Development, and excludes Postmaster General, Navy, War/Defense, Health, Education & Welfare, Veterans Affairs, and Homeland Security.
How can you understand, much less help, the private sector without some experience in it? And since over 80% of Americans work in the private sector, how is it that President Obama found so few with private sector experience worth appointing to key economic Cabinet posts?