McCainomist Likes Obamanomics Team

   Tony Villamil usually has the ear of Republican politicians.  He was Undersecretary of Commerce for Economic Affairs in the George H.W. Bush administration, a top advisor to Gov. Jeb Bush, and recently an advisor to John McCain.

   But Villamil has near-universal praise for the rollout of the Obama economic team, particularly the bigger names.  He calls Treasury nominee Tim Geithner a choice “soothing” to the money markets.  Villamil’s even more enthusiastic about Larry Summers, who he thinks will be the real force behind Obamanomics, citing Summers’ writings in support of economic stimulus in the Financial Times newspaper, over the last several months.

   Obama says economists “across the spectrum” agree with him that a massive, shock-therapy stimulus package is needed.  Conservative economist Villamil agrees, saying that even though heart-stopping deficits will result, “when your house is on fire, you must put it out”.

   Villamil’s best guess is that Obama will delay his campaign-promise repeal of Bush tax cuts for the wealthy ($250k/yr and above), perhaps letting those tax cuts lapse on schedule in 2011.  He also predicts Detroit automakers will eventually get some sort of rescue plan.


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