Democrats Convene Economic Experts To Discuss Path Forward

House Democrats will convene another panel of economic experts next week to assess the sagging U.S. economy and discuss possible remedies.

Speaker Nancy Pelosi (D-Calif.) and other Democratic leaders will convene their third panel of outside economic advisers to brief members, aides and others about the perils of the continuing downturn.

Panelists will discuss the ripples caused by a global credit crisis that has pinched borrowers and roiled lenders, the rising prices for gas, food and other staples of the family budget and their overall outlook for the global economy.

Democrats convene this latest panel as they try to wrap up work on a handful of measures that might answer voters' concerns in this critical election year, including a housing package that will alter lending rules in an effort to prevent another subprime fiasco, a war-funding bill that could include some domestic spending and a potential second stimulus that would come on the heels of a modest tax rebate Congress approved earlier this year. Some of these same economic experts laid out the theoretical underpinings for that rebate check during an earlier panel.

The participants include Larry Summers, the former Treasury secretary and president of Harvard University; Mark Zandi, the chief economist for Moody's, an offshoot of the powerful credit-rating company; Lewis Sachs, a partner with Mariner Investment Group, Inc.; Allen Sinai, founder and chief global economist for Decision Economics, Inc.; and Alan Blinder, an economists professor at Princeton University.
Continue reading post...