Obama Appoints 'Cash-for-Clunkers' Mentor to Lead U.S. Economic Policy

President Barack Obama announced Monday that he would appoint Princeton professor Alan Krueger to lead the White House Council of Economic Advisers.

Krueger, a labor economist and advocate of more direct government action to combat high unemployment, served in the Treasury Dept. during President Obama's first two years, and
is credited with the successful "Cash for Clunkers" program that helped the U.S. auto industry get back on its feet and a number of tax incentive programs that encouraged some hiring.

He also served at the Treasury during the Clinton administration. If confirmed by the Senate, Krueger will replace Austan Goolsbee, Obama's former chief economist who left last month.

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