Biden's Economic Team Knows Compromise Is Overrated
Advisers learned from their Obama years that Republicans won't be reasoned with, so they might as well shoot for the stars.
Biden’s economic team has learned some lessons.
Photographer: Nicholas Kamm/AFP via Getty Images
President-elect Joe Biden has now picked most of his economic team, including Janet Yellen for Treasury Secretary and Cecilia Rouse to head the Council of Economic Advisers. All three are veterans of President Barack Obama's administration, and there's one big lesson they should have learned from their previous service: Preemptive compromise will get you nowhere.
Winston Churchill once said that we should “never let a good crisis go to waste.” Like Obama, Biden and his advisers will confront an economic crisis from Day One: a lingering recession, elevated unemployment and a dysfunctional health care system.