Overhaul of Bush Economic Team

Overhaul of Bush Economic Team

Mike Allen of the Washington Post reports the White House will be overhauling its economic team: "Bush to Change Economic Team" . Allen's story is based on conversations with White House "aides and advisors" this weekend.

The Secretary of the Treasury and the Chair of the Council of Economic Advisors, as well as the Secretary of Commerce and Director of the National Economic Council (the last two retirements
had already been announced), will be replaced. Josh Bolton at the Office of Management and Budget will be retained.

The story the White House appears to be trying to get across this weekend is that the President is moving decisively to lay the groundwork for an ambitious social security and tax reform agenda, by replacing his existing team with one with more political and public relations skills:

"Republican officials said Bush's economic team has been weaker than his national security advisers, and that the president believes he needs aides who can relate better to Congress and be more effective in dealing with financial markets and television interviewers. A more skilled team is essential, the aides said, because of the complex and politically challenging agenda of overhauling Social Security to add private investment accounts and simplifying the tax code."

Allen reports on rumors of possible candidates for various positions.