In a perfect world, top-ranked government officials would cut the bullspin and say what they're really thinking, right? Wrong, say reporters covering the ouster of Treasury Secretary Paul O'Neill.
In general, the press cheered Friday's Bush-whacking, agreeing that the president needed to show some economic action, and that O'Neill was long overdue for the gong. His chief crimes? Public disagreement with Bush policies such as tax cuts, failure to "inspire confidence" (FT and BBC), and -- of all things -- "candor" (WSJ).
Lest we miss the point, the Financial Times put the matter plainly: "A frankness endearing in the private citizen is intolerable in the holder of a great office. For that reason alone, he had to move on."
We'll agree that O'Neill said some ridiculous things while he was in office. Personal favorite: "If you set aside Three Mile Island and Chernobyl, the safety record of nuclear is really very good." And surely, the former chief of Alcoa showed an aluminum ear when he told Latin American nations that the U.S. wanted to be sure its economic aid wouldn't end up in Swiss bank accounts. "He had such a big mouth," complained one Latin American economist. Yes, and big mouths can be costly. The FT estimates that O'Neill's "Swiss bank" gaffe cost the International Monetary Fund an extra $10 billion in apology-aid.
But if blunt speech carries a price tag, so, too, does the usual gov-speak. In considering the Bush administration's economic plan, the Wall Street Journal notes that the White House has banned the phrase "economic stimulus" because it implies the economy is sluggish. Instead, staffers will speak only of the upcoming economic "growth" plan. Wouldn't you bet there are fewer dollars in an economic growth plan?
Not to worry. The Journal assures us that the White House is on the right track. One sign of progress: When Bush was firing O'Neill (via underling, via telephone), he also booted economic adviser Larry Lindsey. Not that the Journal had much against Mr. Lindsey, but -- it clucked -- he and O'Neill weren't "the smoothest of Beltway operators." Among other blunders, Lindsey was thought to be leaking information to friendly reporters. In fact, the Journal insisted unsympathetically, Lindsey sealed his fate by telling a Journal reporter that war with Iraq would probably cost about $200 billion.
Speaking bluntly, eh? Talking to reporters? Well, by all means, off with their heads! - Lori Patel
The Bush Shake Up
http://online.wsj.com/article/0,,SB1039383660741878193,00.html
O'Neill's Candor, Tin Ear Often Ruffled Feathers
http://online.wsj.com/article/0,,SB1039190480297298393,00.html
The Mint-Fresh Quotations Of Paul O'Neill
http://www.washingtonpost.com/wp-dyn/articles/A20534-2002Dec6.html
Top Treasury Candidate Is Former CSX Executive
http://online.wsj.com/article/0,,SB1039387803878044433,00.html
Little mourning for O'Neill's departure (Financial Times)
http://tinyurl.com/3cvk
Lindsey's politics learned at hot dog stand (Financial Times)
http://tinyurl.com/3cv8
Overdue departures (Financial Times)
http://tinyurl.com/3czx
An amusing chat show falls victim to reality (Financial Times)
http://tinyurl.com/3cv6
Bush to Tap CSX Chairman for Treasury (Reuters)
http://www.washingtonpost.com/wp-dyn/articles/A28826-2002Dec9.html
On Economy, Bush Reveals His Soft Spot
http://www.washingtonpost.com/wp-dyn/articles/A28282-2002Dec8.html
Economic View: Money men Bush-whacked
http://news.independent.co.uk/business/comment/story.jsp?story=359464
Bush to announce new economic team
http://news.bbc.co.uk/2/hi/business/2550603.stm
Battered Economic Team May Soon Feel Relief
http://www.washingtonpost.com/wp-dyn/articles/A20742-2002Dec6.html
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