January 11, 2005


Bush Picks Supporter as Economic Council Chief (Jonathan Weisman, January 11, 2005, Washington Post)

President Bush yesterday selected Indiana businessman Allan B. Hubbard to head his National Economic Council, bringing an old friend and fundraiser to the White House to help guide the administration's economic agenda.

Hubbard, who raised more than $300,000 for Bush's presidential campaigns, will take over as NEC director and assistant to the president for economic policy from Stephen Friedman, a Wall Street investment banker who resigned from the post late last year. Like the president's first NEC director, Lawrence B. Lindsey, Hubbard was intimately involved in Bush's 2000 presidential run, holding policy tutorials for the candidate and recruiting other policy advisers for the campaign.

Hubbard could not be reached for comment. But friends and supporters said that, with a president who values loyalty and friendship, Hubbard is likely to be more influential than either Lindsey or Friedman. Hubbard went to Harvard Business School with Bush, and the two have maintained close personal contact for decades.

"He's very close to the president," Lindsey said.

Hubbard will be the sixth NEC director since then-President Bill Clinton created the post to coordinate policymaking between the White House budget office and the Treasury, Labor and Commerce departments.

This would be a good job to do away with the next time even the press is acknowledging that the economy is robust.

Posted by Orrin Judd at January 11, 2005 9:46 AM
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