National Economic Council: Difference between revisions

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 The National Economic Council<ref>{{Cite web|title=National Economic Council|url=https://www.whitehouse.gov/nec/|access-date=2022-01-19|website=The White House|language=en-US}}</ref> was created on January 25, 1993 by [[Executive order|Executive Order]] [[wikisource:Executive_Order_12835|12835]] by President [[Bill Clinton]], officially to coordinate the economic policy-making process with respect to domestic and international economic issues; to coordinate economic policy advice to the president; to ensure that economic policy decisions and programs are consistent with the president's stated goals, and to ensure that those goals are being effectively pursued; and to monitor implementation of the president's economic policy agenda.<ref>{{Cite web|date=2017-02-02|title=Should you be the next Larry Summers? {{!}} Fortune.com|url=http://finance.fortune.cnn.com/2010/09/22/should-you-be-the-next-larry-summers/#more-3151|access-date=2022-01-19|archive-url=https://web.archive.org/web/20170202070321/http://finance.fortune.cnn.com/2010/09/22/should-you-be-the-next-larry-summers/#more-3151 |archive-date=February 2, 2017 }}</ref> Clinton appointed [[Robert Rubin]] as assistant to the president for economic policy and director of the National Economic Council on January 25, 1993, the same day as the creation of the Council. The creation of the council also fulfilled a major promise by President Bill Clinton, to make the [[economy of the United States]] a priority.<ref>{{Cite web|date=2016-04-21|title=The National Economic Council: A Work in Progress|url=https://www.piie.com/bookstore/national-economic-council-work-progress|access-date=2022-01-19|website=PIIE|language=en}}</ref>
-Prior to the creation of the National Economic Council, economic policy staff had existed since the 1960s. President [[Lyndon B. Johnson]] assigned a senior aide to develop and organize domestic policy, of which economic policy was included. In 1970, President [[Richard M. Nixon]] issued an executive order which created the Office of Policy Development. President Clinton split the responsibilities of the Domestic Policy Council with the National Economic Council.<ref>{{Cite web|title=Domestic Policy Council|url=https://www.whitehouse.gov/dpc/|access-date=2022-01-19|website=The White House|language=en-US}}</ref>
+Prior to the creation of the National Economic Council, economic policy staff had existed since the 1960s. President Lyndon B. Johnson assigned a senior aide to develop and organize domestic policy, of which economic policy was included. In 1970, President [[Richard M. Nixon]] issued an executive order which created the Office of Policy Development. President Clinton split the responsibilities of the Domestic Policy Council with the National Economic Council.<ref>{{Cite web|title=Domestic Policy Council|url=https://www.whitehouse.gov/dpc/|access-date=2022-01-19|website=The White House|language=en-US}}</ref>
 The Council is considered an important tool for presidential administrations to use to achieve their domestic, and international economic goals. Robert Rubin said that the purpose for the creation of the Council was to "fix a process problem" and according to Rubin, Clinton said that he believed that he needed to find "some process instrument" which would be able to perform the role and function necessary to advance the president's agenda, and allow agencies to deliberate, coordinate, and solve matters of economic importance. Rubin states another reason Clinton established the Council was "“integrate domestic and international economic policy and. . .integrate international economic policy and so-called foreign policy.” Instead of having two domestic and international domestic staff, the council would blend the two together.<ref>{{Cite web|title=The National Economic Council, The White House Transition Project.|url=https://whitehousetransitionproject.org/wp-content/uploads/2020/10/WHTP2021-35-National-Economic-Council.pdf}}</ref>