Robert Borosage, co-director of the progressive Campaign for America's Future, releases a statement on Obama's economic team ...

It's not the personnel, it's the policy. And on this, Obama has been clear. He's announced a massive recovery plan based on putting people to work with public investment in areas vital to our future.

The crisis we face makes Rubinomics irrelevant. Deficit spending must go up, finance must be re-regulated, trade imbalances must be reduced and manufacturing can no longer be scorned.

Obama is choosing experienced hands for the crisis, trusting that their experience does not impede the new thinking needed to get us out of this hole. He'll set the direction. And so far, he's on course.

Late Update: Much less my cup of tea but also of interest is this from US Chamber of Commerce ...

President-elect Obama has chosen a strong, experienced economic team. Restoring the nation's economic health must be our top priority and the Chamber stands ready to work with the new administration to spur growth and job creation.

This team brings a wealth of knowledge to Washington and an understanding that any sustainable economic recovery will involve the business sector.

Tim Geithner has a deep understanding of our capital markets and the experience and credibility to tackle our nation's biggest challenge--restoring our economy and rebuilding our financial markets.  He has been directly engaged in all the steps taken so far to address this unprecedented crisis and is well qualified to lead the Treasury Department.

Larry Summers' knowledge of economic issues and past experience as Treasury secretary will serve President Obama well.  Likewise, Christina Romer and Melody Barnes will bring an understanding that any sustainable economic recovery will involve the business sector.

For nearly a century the Chamber has successfully worked with both parties through varying economic conditions. Today's challenges are unprecedented and call for strong communication and support between the next administration and the backbone of our nation's economy, America's business community."