On Monday President elect Obama will round out his economic team by having Larry Summers, Bill Richardson, and Peter Orszag join Tim Geithner as the heart of the new economic team. Have these economic appointments ever been more important? The portfolios are below. My condolences to Orszag, who is looking at red ink that would have been unthinkable six months ago, with no short term prospects for budget balance any time soon.

Larry Summers, Chair of the National Economic Council

Bill Richardson, Secretary of Commerce

Peter Orszag, Director of the Office of Management and Budget