Saturday, December 07, 2002

Who Will Replace O'Neill and Lindsey?

Bush ousts top 2 aides on economy
Charles Schwab among those rumored for Treasury secretary

However, it is also rumored that House Majority Leader Dick Armey, former House Ways and Means Chairman Bill Archer, retiring Sen. Phil Gramm, and Commerce Secretary Don Evans, all of Texas are also being considered to replace Paul O'Neil. That is a frightening prospect given that Archer, Gramm and Armey have all be supporters of a flat tax and could be counted on to further tilt the administration to the right. I don't know if Schwab is the best choice, but he seems much more reasonable then the others. However, the administration also dumped Lawrence Lindsey, a big believer in supply side economics (I should say "thoroughly discredited supply side economics"), perhaps that is a sign that they are moving in a more sensible direction.

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