December 06, 2002

ECONOMIC TEAM SWITCH-UP

ECONOMIC TEAM SWITCH-UP: Paul O'Neill had enough good ideas to be hated by The Nation, but National Review still called for his resignation. O'Neill managed to screw up both when he was wrong and when he was right: he often isolated himself politically, and was out of sync with the Administration in one way or the other.

But I think it was Larry Lindsey who was most responsible for the Bush Administration's economic incoherence-- "making Keynesian arguments for watered-down supply-side measures," as NR put it in its "Fire O'Neill" piece. Lindsey openly said he followed no particular school of economic thought, and that his grounding was Keynesian. His professed synthesis of schools proved practically untenable.

With luck, their replacements will do better; the names being tossed around sound promising. Phil Gramm and Dick Armey are favored by Steve Moore, Kathryn Jean Lopez informs us in her too-cute-by-half manner. But I have to wonder if those guys, now leaving the Hill, might have other retirement plans lined up.

Posted by John Tabin at December 6, 2002 09:39 PM
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