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April 11, 2005

Treasury Secretary John Snow Goes Off Message

Via Kevin Drum:

The Washington Monthly: Although the Bush administration is pressuring industry trade groups to support its Social Security plan, it's having a harder time with corporate America itself:

When Treasury Secretary John W. Snow visited a prominent New York investmenthouse recently to talk up Social Security, a top executive asked why the White House was putting Social Security, which does not face a crisis for years, ahead of more immediate worries such as the weak dollar and the swollen federal deficit.

Snow's only response, according to one person who was in the room, was to acknowledge the import of those issues but reiterate that Social Security was the president's priority.

Social Security's long-run deficit ranks third in urgency and third in size of America's fiscal problems--the current medium-term deficit and the rapidly-growing health programs are numbers one and two.

Everybody knows this, it seems. Everybody but George W. Bush.

Shouldn't somebody tell him?

Posted by DeLong at April 11, 2005 01:29 PM