Snow Will Remain As Treasury Secretary

Yesterday, December 8th, President Bush asked Treasury Secretary John Snow to remain in his position for the next two years, at least. After meeting breifly with the President, he agreed. Snow first joined the Bush administration in February 2003 after former Treasury Secretary Paul O'Neill was ousted; prior to that, he headed CSX, a large railroad company. Snow's position as Treasury Secretary puts him in one of the nation's most central economic policymaking posts.

This announcement is particularly noteworthy because of the rumors that have been circulating recently regarding whether Snow would remain on board in the second term. On Monday, the New York Times even reported that "President Bush has decided to replace John W. Snow as treasury secretary and has been looking closely at a number of possible replacements, including the White House chief of staff, Andrew H. Card Jr., Republicans with ties to the White House say."

Despite the rumors, Snow will remain to help the administration sell its second term economic agenda to the public and Congress. This decision comes at a time of considerable economic uncertainty, as we are faced with an increasingly weaker dollar [1], a growing deficit [1], and looming discussions of both tax reform and an overthrow of the social security [1] entitlement program. Mr. Snow, as today's New York Times states, is largely seen as a "salesman for White House policies."

For more information on Snow as Treasury Secretary, click here [1] and here [1].

Yesterday, December 8th, President Bush asked Treasury Secretary John Snow to remain in his position for the next two years, at least. After meeting breifly with the President, he agreed. Snow first joined the Bush administration in February 2003 after former Treasury Secretary Paul O'Neill was ousted; prior to that, he headed CSX, a large railroad company. Snow's position as Treasury Secretary puts him in one of the nation's most central economic policymaking posts.

This announcement is particularly noteworthy because of the rumors that have been circulating recently regarding whether Snow would remain on board in the second term. On Monday, the New York Times even reported that "President Bush has decided to replace John W. Snow as treasury secretary and has been looking closely at a number of possible replacements, including the White House chief of staff, Andrew H. Card Jr., Republicans with ties to the White House say."

Despite the rumors, Snow will remain to help the administration sell its second term economic agenda to the public and Congress. This decision comes at a time of considerable economic uncertainty, as we are faced with an increasingly weaker dollar [1], a growing deficit [1], and looming discussions of both tax reform and an overthrow of the social security [1] entitlement program. Mr. Snow, as today's New York Times states, is largely seen as a "salesman for White House policies."

For more information on Snow as Treasury Secretary, click here [1] and here [1].