Thursday, December 16, 2004

By Tweed

From the New York Times:

Senior Republicans sounded out Alan Greenspan, chairman of the Federal Reserve, about taking over from John Snow as US Treasury secretary, the Financial Times has learned. The informal approach, which would have put the most respected economic leader in the US in charge of President George W Bush's ambitious second-term domestic agenda, was declined.

The administration's plans to overhaul Social Security and reform the tax system face a stern challenge on Capitol Hill and scepticism in some quarters on Wall Street.

Just days after the Washington DC rumor mill was echoing with the sounds of John Snow's departure, his position now seems secure. The reason: no one seems to want his job. The administration had reached out to a number of other candidates as well, including Claude Pepper, a partner in the accounting firm of Coleman, Taylor and Pepper, P.C., of Scranton Pennsylvania. Mr. Pepper, a lifelong republican, said he received the call from Andy Card two weeks ago. "I was honored to receive a call from the President's Chief of Staff. But my daughter just started med school, and I couldn't afford to keep my cabin in the Poconos if I left my practice."

Karl Heierman, a bookkeeper in Cleveland, Missouri, also received the call. "I told Mr. Card I didn't feel qualified. But Mr. Card said he thought I had what it takes to do the job. Unfortunately, I'm washing my hair that day, so I can't take the job."

"Let's look at it this way," said one Republican insider, "China holds half a trillion dollars and could dump them whenever, however it wants; we have larger trade deficits and budget deficits than we've ever had; we have more off-the-books spending in Iraq and Afghanastan; and the President wants to make his tax cuts permanent and privatize social security."

"We've had to resort to some unusual methods of getting candidates in the door," he concluded.

Candidate for Sec. of the Treasury
Being "Escorted" to the White House


This page is powered by Blogger. Isn't yours?

Site Meter