• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
FinanceTerm Sheet

Rick Perry’s economic team: Free of economists so far

By
Tory Newmyer
Tory Newmyer
Down Arrow Button Icon
By
Tory Newmyer
Tory Newmyer
Down Arrow Button Icon
September 7, 2011, 7:28 PM ET


Rick Perry: No academics here.

FORTUNE — Texas Governor Rick Perry, the new front-runner for the Republican presidential nomination, faces a serious challenge tonight when he takes the stage at the Reagan Presidential Library for his first national debate.

An unproven debater, Perry will debut as his competition’s top target. It’s been less than a month since he launched his campaign, and he’s already surged to the front of the pack in part on promises to bring about a jobs renaissance.

The governor relies on the Lone Star State’s economic performance under his leadership over the last decade to make his case. But where is his economic plan for the nation? Or, at least, where is the economic team that will help him craft it?

So far, apparently, neither exists. Perry’s camp did not respond to Fortune inquiries about which economic brains the candidate aims to consult. Pressed on Fox News on Tuesday for a clue about when he’ll roll out his jobs plan, Perry said his focus right now is on containing the wildfires ravaging his home state.

The very real threat posed by the fires and his relative newness in the race will buy him a longer grace period — “He just announced his campaign team last week, and it takes a while to put a lot of those pieces together,” says Republican consultant Doug Heye — but the clock is winding down.

Perry’s performance tonight is being bracketed by detailed blueprints from the two men he needs to beat to win the White House.

The rival he just deposed atop the GOP heap, former Massachusetts Gov. Mitt Romney, dominated the airwaves on Tuesday with the well-received rollout of an 59-point, 160-page economic plan that proposes cutting the corporate tax rate and scaling back regulations. Romney added some more heft by simultaneously announcing an economic team headed by two of the right’s most-respected economists, Glenn Hubbard and Gregory Mankiw.

And tomorrow, President Obama will flex his bully-pulpit prerogative when he presents his jobs plan in a prime-time address to a joint session of Congress.

Perry has talked in vague terms about what his approach would be: low taxes, less regulation, tort reform, and reduced spending. “You won’t have stimulus programs under a Perry presidency. You won’t spend all the money,” he said at recent appearance in Oklahoma. And Perry has embraced a proposal that a collective of multinational corporations is pressing Congress to adopt that would allow them to repatriate foreign profits at bargain-basement tax rates.

As he stands up his campaign, there is evidence Perry is reaching out to private-sector leaders for economic advice. He brought a handful of Washington hands who lead small business trade associations down to Austin last month for a lunch meeting that one participant described as a “pure policy session” on job growth.

And it may be that Perry would like to hold off on hiring economic eggheads for as long as he can. The governor has cultivated an anti-elitist image, distancing himself from his predecessor in the Texas governor’s mansion, George W. Bush, by noting the 43rd president went to Yale, while Perry was a Texas A&M man. On Fox News, he recently blasted Obama for surrounding himself with academics who claim prestigious degrees and no real-world experience. “They are intellectually very, very smart but he does not have wise men and women around him,” Perry said.

Nevertheless, potential supporters eyeing Perry’s campaign in the next few weeks will be looking for the candidate to bring some heavy-hitting advisors aboard.

“When you’re tackling huge problems such as the economy, you’re going to want to have a few name-brand economists that people trust and rely on, that people know are credible in their fields,” GOP strategist Ron Bonjean says. “Supporters want to know this machine is well-oiled.”

An added inducement for Perry to get moving in that direction: the sooner he puts out a detailed jobs proposal, the faster he can change the subject with a national press corps that has focused on the controversial positions he laid out last year in his book, Fed Up!, which was written before he’d decided on a White House run.

“It’s the shiny-ball theory of politics,” Bonjean says.

About the Author
By Tory Newmyer
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

ExxonMobil CEO Darren Woods, far right, listens as U.S. President Donald Trump,left, speaks during a meeting with oil company executives in the East Room of the White House on Jan. 9. President Trump is aiming to convince oil executives to support his plans in Venezuela, a country whose energy resources he says he expects to control for years to come. US forces seized Venezuelan president Nicolas Maduro in a sweeping military operation on January 3, with Trump making no secret that control of Venezuela's oil was at the heart of his actions.
EnergyIran
Exxon Mobil CEO sees ‘more to come’ on price spikes from Iran war as Exxon, Chevron beat on earnings despite plunging profits
By Jordan BlumMay 1, 2026
40 minutes ago
trump
PoliticsIran
Trump on Iran: ‘They want to make a deal, I’m not satisfied with it, so we’ll see what happens’
By Toqa Ezzidin, Munir Ahmed, Collin Binkley and The Associated PressMay 1, 2026
2 hours ago
infantino
North AmericaWorld Cup
Fifa’s Infantino predicted sellouts and ‘1,000 years of World Cups at once,’ but fans aren’t biting
By James Robson and The Associated PressMay 1, 2026
3 hours ago
cox
C-SuiteWealth
Billionaires have a problem money can’t solve: They don’t know how to talk to their kids
By Nick LichtenbergMay 1, 2026
3 hours ago
trump
EconomyTariffs
Trump says he’ll hike EU auto tariffs to 25%, jolting a world economy that really didn’t need it
By Josh Boak and The Associated PressMay 1, 2026
3 hours ago
male engineer working under pylon
EnergyElectricity
Utility CEOs pocket $626 million as American energy bills hit record highs
By Tristan BoveMay 1, 2026
3 hours ago

Most Popular

China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
North America
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
By Jake AngeloApril 30, 2026
1 day ago
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
Personal Finance
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
By Fatima Hussein and The Associated PressMay 1, 2026
8 hours ago
The U.S. economy is booming — just not where 50 million Americans live
Commentary
The U.S. economy is booming — just not where 50 million Americans live
By Derek KilmerMay 1, 2026
13 hours ago
Accenture's Julie Sweet blew up 50 years of company history. She says the hardest part is still ahead
Conferences
Accenture's Julie Sweet blew up 50 years of company history. She says the hardest part is still ahead
By Nick LichtenbergApril 29, 2026
2 days ago
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
Success
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
By Preston ForeApril 27, 2026
4 days ago
Exclusive: America's largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth
Banking
Exclusive: America's largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth
By Nick LichtenbergApril 29, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.