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Monday, April 17, 2006

Washington Wire � Thumbs Down on Snow

click picture above to enlarge........
The latest survey of economists asked: 'Has John Snow been an effective Treasury secretary?' Fourteen economists said, 'Yes,' and 25 said, 'No.'
Washington is abuzz with rumors that Snow is on the way out, but it?s not yet clear when or who President Bush will pick to take his place. Asked for brief comments on Snow?s tenure, very few had anything nice to say about the former railroad executive who succeeed Paul O'Neill in January 2003. Here?s a sampling.
The nasty ones:
No progress on fiscal priorities
He has been a non-entity
No attention to tax reform
We need a Bob Rubin
Obviously (good) for Bush, less so for financial markets
No meaningful legacy
Too much of a voice box for admin, not enough of a policy maker.
The nicer ones:
Thankless job
Wasn?t allowed to be (effective)
OK, not great
Much better than O?Neill
Couldn?t be (effective) in this Administration
The survey also asked economists to weigh in on the impact of illegal-immigrant labor of lower-income Americans. See article. ?David Wessel


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