Economic Dream Team Machine
Can you build the perfect team of experts to rev up the American economy?
Reuters Breakingviews has evaluated potential candidates for key economic positions in a Hillary Clinton or Donald Trump White House and graded them in six categories based on their prior experience or academic achievement.
One category - the "One Percent Ick Factor" - can reduce the scores of candidates whose wealth or work on Wall Street might work against them in a Senate confirmation process.
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· Hover over prospective candidates to see their backgrounds and ratings ·
· Drag and drop your favorites from either side into various roles ·
· As you make selections, total points for each candidate are tallied based on the adviser ratings ·
· When all jobs are filled, the final head-to-head scores will appear ·
· Share your scores on social media ·
About the Economic Dream Team Machine
It’s a Breakingviews application that lets readers formulate their own potential economic advisory teams for the next U.S. presidential administration, whether it is led by Hillary Clinton or Donald Trump.
How do I choose nominees for each candidate’s potential team?Breakingviews has populated the columns of either side of the page with prominent economic experts, business executives, politicians and academics and grouped them by political affiliation. While it is likely that each respective presidential candidate would pick most advisors from within his or her party, the machine allows you to mix and match Democrats and Republicans.
Choose possible team members for a position by dragging his or her thumbnail to one of the squares below each presidential candidate.
The slots include the most important economic advisory positions appointed by the president, including the Secretary of the Treasury, Federal Reserve Chair, Director of the National Economic Council, Chair of the Council of Economic Advisers, Secretary of Commerce and U.S. Trade Representative. We’ve also included a “Wildcard” slot, which could represent another top economic appointment, such as the chairman of the Securities and Exchange Commission or a special "Economy Czar" post in the White House.
I changed my mind about a pick – how do I fix it?You’ve got two options. Either tap the “x” in the upper left corner of a chosen pick’s picture or click the “Reset” button towards the top of the screen to clear all your choices and start over.
How does scoring work?We have graded each candidate in five categories: Budgeting, Finance/Markets, Employment, Legislative and International. Scores range from as low as one to as high as five depending on prior experience.
For example, possible Republican pick Robert Zoellick is rated as a “5” in “International” because he served as World Bank President, U.S. Trade Representative, Deputy Secretary of State, and has expertise in national security. However, Zoellick receives a “2” in “Job Creation” since he has little experience as an entrepreneur, running a company or in academic labor economics.
As you make selections, each presidential candidate’s team is tallied through a simple sum of their scores in the five subject areas. A total score is shown for each candidate, and the five areas are shown separately in a bar chart that will populate once all eight slots are filled.
For the 2016 edition of the Economic Dream Team Machine, however, candidates can also receive a negative score under the "One Percent Ick Factor," reflecting the potential difficulties their wealth, Wall Street ties or work for bailed-out financial institutions might create in a Senate confirmation process.
Who created these scores?Scores are based on an assessment by Breakingviews columnists of the backgrounds of each nominee. We attempted to be as objective as possible!
How can I learn more about the backgrounds of the candidates?Scroll over their rectangle in the nominee bank and you’ll see abbreviated resumes. Asterisks next to a job indicate a current position. You can also see scores in the information box.
Can I share the dream teams I create with my friends?Yes, please do! Use the buttons underneath the bullet points to share your results on Facebook and Twitter or simply copy the url at the top of the page
Democrats
Presidential Nominee
Hillary Clinton
Donald Trump
Treasury Secretary
This cabinet-level position, currently occupied by Jacob Lew, directs every aspect of the U.S. Treasury. He or she helps the president to maintain a strong economy by promoting conditions that facilitate economic growth, overseeing financial stability, monitoring national financial security and managing the government’s accounts. A broad-based skill set is required, including extensive understanding of markets, budgeting and international affairs. The Treasury secretary must also advise on policies related to tax, housing, financial regulation and government debt. The secretary also chairs the Financial Stability Oversight Council.
National Economic
Council Director
The National Economic Council director acts as the president’s closest economic policy advisor. In that capacity, the president may shape the NEC in any way desired. For example, if the president is particularly concerned about unemployment, he or she might bring in a director with expertise geared specifically towards job creation. Traditionally, NEC directors - including present occupier of the position Jeffrey Zients - have played a significant role in budget discussions. The next director is likely to play a significant part in helping to craft and negotiate any deficit or tax reform deal.
Federal Reserve Chair
The chair of the central bank wears a number of hats. The most important is to direct U.S. monetary policy, as he or she resides over the Federal Open Market Committee. The FOMC decides how to best carry out the Fed’s dual mandate to pursue full employment and price stability. The chair, currently Janet Yellen, also oversees other Fed matters, such as financial stability and bank regulation.
Secretary of Commerce
The Commerce Department acts as the ambassador for U.S. businesses both at home and abroad. The secretary, currently Penny Pritzker, promotes trade, foreign investment and innovation, and is a member of the president’s cabinet. Various offices that collect and provide data are also within the agency, such as the Census Bureau, the Bureau of Economic Analysis and the National Oceanic and Atmospheric Administration, which gathers information on the environment. One key area overseen by the department is licensing and regulating export controls to ensure national security objectives are met, such as sanctions regimes.
Chair of the Council of Economic Advisers
The chair is in charge of a group of three-member panel that gives the president economic advice on both domestic and international policy. The council is part of the executive office of the president. and conducts economic research. The chair, currently Jason Furman, is often an influential voice and people who have occupied that spot often go on to bigger jobs, such as Federal Reserve Chair for Ben Bernanke and Janet Yellen.
U.S. Trade Representative
The person in this role develops and coordinates U.S. policy on international trade, commodity agreements and direct investment policy. The position can be influential at times when trade issues are at the forefront, such as under the Obama administration. The current representative, Michael Froman, has led talks on the Trans-Pacific Partnership trade deal and other pacts. The successor will be dealing with a Congress that is more hostile to such agreements. The representative also works on World Trade Organization issues.
Wildcard
Some possible other important economic posts could include director of the Office of Management and Budget or chair of the Council of Economic Advisors. The former helps to craft the president’s annual budget and would play a major role in any debt deal discussions, including formulation of policy and its implementation in Congress. The latter provides a more academic advisory role to help shape economic policy, such as which legislative changes might spur the most job creation and how different economic models predict various outcomes. Other economic appointments could include the president’s chief of staff or a special economic advisor, such as a “Budget Czar,” to lead a specific initiative.
Republicans