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O'Neill, Lindsey resign [UPI]
United Press International ^ | 12/6/2002 11:08 AM | Richard Tomkins and Peter Roff

Posted on 12/06/2002 8:39:39 AM PST by CanisMajor2002

WASHINGTON, Dec. 6 (UPI) -- Treasury Secretary Paul O'Neill and White House economic adviser Lawrence Lindsey, architect of the president's tax cuts, resigned within minutes of each other Friday, officials said.

The resignations, effective in the next few weeks, came as the Labor Deparetment announced unemployment in November increased to 6 percent, the highest level in nine years.

It was not clear if the resignations were coordinated, related to the spike in unemployment or were requested by the White House.

"They resigned," White House spokesman Ari Fleischer said repeatedly when asked if the departures were part of a house cleaning.

"I've said everything I'm going to say" on that.

"The answer will always be the same. They resigned."

O'Neill has been a lightning rod for criticism by Democrats and others over an economy the president concedes is "bumping along."

"The data continues to be mixed on the economy," Fleischer said, and Friday's unemployment figure "was a setback" for positive trends, such as lower interest rates, low inflation and some growth in the economy.

President George W. Bush, while touting the positive, has repeatedly expressed in speeches his concern about stimulating the economy and creating job growth.

"The president very much appreciates the service of Treasury Secretary Paul O'Neill and Larry Lindsey," Fleischer said, and their contributions to getting Congress to pass tax cuts, new trade authority, terrorism insurance and other measures.

"They have both served the president ably and well in leading the nation from a period of recession into a period of growth," Fleischer said.

Fleischer said no successor for O'Neill was in place, but the president would look for a candidate with government and private-sector experience.

O'Neill was head of the industrial giant Alcoa when Bush tapped him to be his administration's first treasury secretary, largely because of his close relations to Vice President Dick Cheney and Federal Reserve Chairman Alan Greenspan.

Lindsey is a prominent supply-side economist who was appointed a Federal Reserve governor by the current president's father. Lindsey also played an important advisory role in President George W. Bush's 2000 presidential campaign.

Both men have been the focus of criticism from the GOP pro-growth wing for some time. Calls for O'Neill's resignation have built steadily almost from the beginning.

Early speculation as to their replacements is mute, but names frequently mentioned in the past include retiring House Majority Leader Dick Armey of Texas, former Texas GOP Sen. Phil Gramm and magazine publisher Steve Forbes --all favorites of the GOP's pro-growth wing.


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To: Leto
Maybe a spot for Thune, too.
21 posted on 12/06/2002 9:30:47 AM PST by katze
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To: CanisMajor2002
Armey, Gramm, or Forbes! Please, let it be so!!!

Reagan did unmeasurable good to poor people and everyone else by growing the US and world economy. Bush Sr. threw it away so he could "govern" with the socialist beltway crowd. Newt and Kasich, though well-meaning, made a huge error. They were so afraid of the trickle-down tax cuts for the rich label that they changed from economic growth to "balanced budgets", obscuring the fact that it is growth, not tax increases, that balances budgets. Then Bush Jr. put forward a very modest tax cut plan, aimed at winning the election. He won, just barely, and deserves credit for his wisdom in picking a plan that would fly politically.

This is the moment of truth. If the president picks supply siders for Treasury and economic advisor, the Reagan revolution can begin again. If he picks beltway types, we will have years of slow growth and will be blamed for it at the polls. A strong economy would be the most powerful support for the war on terrorism. Please, Mr. President, bring on the growth economists! No country club Republicans! (end of rant)

22 posted on 12/06/2002 9:36:37 AM PST by SupplySider
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To: MurryMom
Oh come now, you're just twisting things around, because you're against GWB, and can't be objective if you tried! Start over again, and be honest now. You're anti-Bush bias is talking! There's no such thing as Superman, and if there was; Bill Clinton would hardly pass muster!
23 posted on 12/06/2002 9:40:13 AM PST by dsutah
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To: MurryMom
Have you jumped on the Sharpton bandwagon yet?

Or are you still holding out for a Florida recount for Big Al?
24 posted on 12/06/2002 9:41:28 AM PST by headsonpikes
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To: MurryMom
Once again, you display that you're "As Dumb as a democRat".
25 posted on 12/06/2002 9:43:41 AM PST by Hank Rearden
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To: Leto
forbes said this am he didn't feel he would be considered, he does support Bill Archer however.

Too bland and curmudgeony. I vote for Jack Kemp. Sound on policy and a great supplement to the "compassionate conservatism" schtick.

26 posted on 12/06/2002 9:52:46 AM PST by winin2000
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To: MurryMom
Really?
And the Clinton administration didn't have that in spades?
And your proof is?
And the "Most ethical administration ever" didn't have ethics problems, I suppose?
Nor did they ever outright lie?
And there weren't ever any shady dealings by the Clintons?

I suppose you're going to tell me that Clinton never did anything wrong, never purjored himself and never ever had sexual relations with that woman, either?
I'm also supposed to believe that Clinton never used the IRS as his attack dog.
Nor, I suppose, did he ever use the Justice department as a personal attack wing.
And Hillary doesn't have a band of thugs she calls her "etiquette squad"?
She's admitted to that, you know.

The Bush administration didn't bring any of the corruption that the Clinton administration did.
Remember, Enron was bailed out during the Clinton administration.
Bush chose not to bail it out because it deserved to flounder.
Clinton chose to lie, cheat, and outright allow corruption to exist simply because it suited his pruposes and funded his elections.
Clinton did his darndest to destroy this country and our freedoms. The same freedoms that you take for granted.
Clinton was ready to sign our freedoms away to the U.N.
Clinton smugly stated that Bush is gonna have a hard time fixing everything that he (Bubba Clinton) screwed up.

I know I'm not going to change your mind. I'm not trying to.
I know that arguing with a Clintonite is like arguing with a flat-earther.
27 posted on 12/06/2002 9:53:28 AM PST by Darksheare
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To: MurryMom
"Deficits, unemployment and corporate crime, all stock in trade of the Bush Economy."

Don't you guys ever get tired of trying to re-write history? The economic downturn started on clinton's watch and that is a provable FACT. Hell, it was common knowledge during the 2000 campaign - it was in the papers, radio, and TV...you must have been out of town.

Ecomomic slumps cause deficits and unemployment, again, which began at the end of clinton's reign. The corporate crimes occured mostly through the 90's...during who's administration? They were exposed and are being prosecuted now by Bush's Justice Department.

You know what Murry? You've lost your monopoly on the media. Your revisionism isn't going to wash anymore. But keep carryiing the lib banner - it makes a nice target.

28 posted on 12/06/2002 10:12:22 AM PST by A Navy Vet
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To: A Navy Vet
Don't bother. She only posts once in an article.
29 posted on 12/06/2002 10:16:21 AM PST by AppyPappy
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To: CanisMajor2002
This is great news! Thank you, Mr. Bush for having the courage to make the changes.
30 posted on 12/06/2002 10:18:42 AM PST by For the Unborn
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To: CanisMajor2002
Steve Forbes

Steve Forbes would be a great choice, IMHO.

31 posted on 12/06/2002 10:25:34 AM PST by Tennessean4Bush
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To: CanisMajor2002
Farewell, Secretary O'Neill. We won't forget the classic confrontation you had with Robert Byrd.
32 posted on 12/06/2002 10:26:24 AM PST by Republican Wildcat
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To: All
I am worried about tax reform now.......largely O'Neill was leading the fight there. But there may be hope....I seem to recall that Bush himself has been looking at that issue IIRC.
33 posted on 12/06/2002 10:31:39 AM PST by rwfromkansas
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To: All
Everyone, call the WH with your support for Reagan Republicans!

COMMENTS: 202-456-1111
SWITCHBOARD: 202-456-1414
34 posted on 12/06/2002 10:34:46 AM PST by rwfromkansas
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To: okie01
You're not familiar with Gramm's or Armey's economic views, are you?

Quite -- but part of the question was, what was this "pro-growth" arm of the Republican party...is there an anti-growth arm?

35 posted on 12/06/2002 10:37:06 AM PST by CanisMajor2002
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To: CanisMajor2002
As much as I like Forbes I doubt that they will pick him for Treasury. Larry Kudlow would be by far the best pick for Treasury Secretary. He is very articulate and believes in supply side economics and I really think he could move this Administration and the economy like no one else.
36 posted on 12/06/2002 10:38:20 AM PST by jjhunsecker
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To: jjhunsecker
Someone from the McClaughlin Group! Kudlow has been an outspoken critic of O'Neill and his selection would a repudiation of O'Neill's policies. Kudlow is a very smart guy. He's an inspired choice. I hope he pushes for immediate impletation of the tax cut. Plus he should push Bush to go even further and flatten some of the tax rates, especially the first 3 brackets.
37 posted on 12/06/2002 10:55:41 AM PST by Jeff Smith
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To: MurryMom
Looking at your FR homepage tells me why you're s socialist.

You're in Pennsylvania.
Begone, drive by poster.
38 posted on 12/06/2002 10:58:12 AM PST by Darksheare
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To: Jeff Smith
Kudlow would never get past the guaranteed Democrat smear campaign on his coke problems.
39 posted on 12/06/2002 11:10:32 AM PST by Deb
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To: MurryMom
Move to France A-hole!
40 posted on 12/06/2002 11:24:32 AM PST by ohioman
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