Today, President Obama named Gene Sterling as the new director of the National Economic Council. Mr. Sperling, who will succeed outgoing director Larry Summers, held this same position under President Clinton's term from 1997 to 2000 and acted as deputy director from 1993 to 1996. Most recently, Mr. Sperling was a senior adviser to Secretary of the Treasury Tim Geithner.
The Committee for a Responsible Federal Budget welcomes Mr. Sperling and congratulates him on his appointment. It’s well worth noting that while working under the Clinton administration, Mr. Sperling was a key member of the White House economic team that negotiated the bipartisan Balanced-Budget Agreement with a Republican Congress in 1997, and he also played a lead role in the 1993 Deficit Reduction Act.
CRFB sincerely hopes that Mr. Sperling shows the same dedication to bipartisanship and deficit reduction this time around, and that these areas will continue to be his focus. Mr. Sperling’s knowledge and experience with these issues return to the NEC not a moment too soon, and we hope that he can help and inspire others in Washington to work together to solve our fiscal problems.