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Friday, January 16, 2004

NEWCASTLE FACES UNPRECEDENTED COALS SHORTAGE 

Brad DeLong lists all the moves Paul O'Neill should have made if he had really wanted to be an effective Treasury Secretary. (Hat tip to Tyler Cowen at Marginal Revolution.) It's an excellent primer for those seeking Cabinet-level positions--and our readership here at Spitbull positively teems with such folk, so we're just glad we could help out--but I was puzzled by two passages (the post is organized by days relative to Inauguration Day):
Day -7: Host a meeting of the Republican economic policy Great and Good--Shultz, Baker, Brady, Boskin, Feldstein, Sprinkel, Darman, et cetera--and set out the five principles for Bush II administration economic policy: (i) fulfill the President-Elect's promise of tax cuts; (ii) run a Republican government--a small government, a prudent government, an effective government, an efficient government--(iii) maintain budget surpluses; (iv) reform entitlement spending to deal with the long-run problems of the retirement of the baby-boom generation and the growing cost and power of medical technology; (v) pursue free trade.

* * *

Day +4: Ask the president what advice he has as you attempt to put into practice the five priorities of Bush administration economic policy: (i) fulfill the President-Elect's promise of tax cuts; (ii) run a Republican government--a small government, a prudent government, an effective government, an efficient government--(iii) maintain budget surpluses; (iv) reform entitlement spending to deal with the long-run problems of the retirement of the baby-boom generation and the growing cost and power of medical technology; (v) pursue free trade.
Seems like overkill to me. I mean, low taxes coupled with spending restraint, a streamlined government, a focus on long-term economic health, a deep aversion to protectionism--supporting these policies is what it means to be a Republican, right?

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