You’ll Never Pretend to Make Policy in This Town Again!
by matt at 5:00 am on August 10th, 2005 in Cheney, John SnowJohn W. Snow seems to have forgotten about the consequences of truth-telling from the Treasury Secretary perch.
Snow Concedes Economic Surge Is Not Benefiting People Equally:
Treasury Secretary John W. Snow acknowledged yesterday that the fruits of strong economic growth are not spreading equally to less educated Americans, as he and the rest of President Bush’s economic team prepared to meet today to discuss wages and income distribution in an otherwise surging economy.
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“One of the things we know is that less educated people have seen their incomes and wages grow more slowly. That’s what the numbers tell us.
[Treasury Secretary Paul] O’Neill said he tried to warn Vice President Dick Cheney that growing budget deficits-expected to top $500 billion this fiscal year alone-posed a threat to the economy. Cheney cut him off. “You know, Paul, Reagan proved deficits don’t matter,” he said, according to excerpts. Cheney continued: “We won the midterms (congressional elections). This is our due.” A month later, Cheney told the Treasury secretary he was fired.
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