Video: Obama economic adviser speaks out

msnbc.com news services
updated 3/11/2009 9:23:03 AM ET 2009-03-11T13:23:03

A key economics adviser to President Barack Obama said Wednesday the administration is moving methodically to restore American business health and denies that it’s juggling too many things at once.

Christina Romer, who heads the White House Council of Economic Advisers, also said Obama has communicated clearly that attacking the deep recession is his top priority.

Interviewed Wednesday on NBC’s “Today” show, Romer did acknowledge that “inherently, the response is complicated.” But she said the administration has “rolled out” many specific strategies, including the plan to reduce home foreclosures and the current “stress test” to determine the capital needs of troubled banks.

Romer added, for instance, that if people can lower their house payments, the additional available cash will help “put their friends back to work.”

Critics say Treasury Secretary Timothy Geithner is battling the worst economic crisis in generations with no key deputies in place, and that has made for a rocky debut for the man President Barack Obama put in charge of addressing the financial crisis.

Not one of his top 17 deputies has been named, let alone confirmed, critics say. And without senior leadership, lower-level Treasury employees can’t make decisions or represent the government in crucial conversations with banks and others.

More on  Obama   |  the economy

The Associated Press contributed to this report.

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