Gene Sperling has been named by President Obama to the Director of the NEC (National Economic Council).
He replaces Larry Summers, who had announced last year that he was leaving the post.
Gene was Counselor to the Secretary of the Department of the Treasury, Timothy F. Geithner in 2009 to the present assignment.
Gene is no stranger to this position. He served as Director of the NEC in the Clinton administration from 1997 to 2000.
Shira Ovide of the Deal Journal reports: The head of the NEC is the point man on economic policy issues for the White House. Sperling will replace Larry Summers, who announced late last year his plans to step down from the NEC.
South Capitol Street tells us: about his proposal for a universal 401(k) program featuring “[g]enerous $ 2-to-$ 1 government matching contributions for initial savings of low-income families and $ 1-to-$ 1 matches for middle-income families . . . financed in a fiscally responsible manner” by avoiding estate tax repeal.
Justin Fox writes: I've had a few encounters with Gene through the years, and he's always struck me as an endearing (and rare) combination of policy wonk, political operator, and genuine mensch.
The White House posted a wordy announcement on the WH web site:
Posted on August 06, 2009 at 12:29 PM EST
Type: National Economic Council
Director of the National Economic Council and Assistant to the President for Economic Policy Gene B. Sperling is Director of the National Economic Council and Assistant to the President for Economic Policy. He was appointed by President Barack Obama on January 7, 2011.
From 1993 to 1996 Gene Sperling served President Clinton as the Deputy Director of the National Economic Council.
Gene, like a lot of people filling positions in government, is a lawyer. He received his J.D. from Yale Law School.
He worked hard to expand the Earned Income Tax Credit.
He has stated before that he proposes a $2 for $1 government matching funds for low income savings programs and a $1 to $1 government matching contribution for middle income family savings plans.
He said he would fund that by keeping the estate death tax.
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