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Dems: Problem is economic plan, not teamGOP's Grassley calls for fast nomination process
By Sean Loughlin
WASHINGTON (CNN) -- Congressional Democrats greeted President Bush's announcement of his Treasury secretary nominee coolly Monday, saying the problem was not the economic team, but the administration's policies. "John Snow and Stephen Friedman appear to be well-qualified, capable individuals, but the real issue here is not about personalities," Rep. Steny Hoyer, the incoming House Democratic whip, said in a statement. "The fact is, they're going to be asked to sell the same old economic snake oil that the Bush administration has been pushing for more than three years." Snow, a top railroad executive, was tapped Tuesday by Bush to replace Paul O'Neill, who -- under pressure from the White House -- announced his resignation Friday. White House economic adviser Lawrence Lindsey also announced his resignation. Sources say the White House will name Steve Friedman, a former co-chairman of Goldman Sachs, to replace Lindsey. Sen. Tom Daschle, the Democratic leader in the Senate, called it "encouraging" that the president was "reaching out to people of experience." "But it isn't the names, but the plan that is of concern to us," Daschle told reporters Monday. He said the White House must do more than "rearrange the chairs" if it was serious about turning the economy around. Former Vice President Al Gore had similar comments. In an interview with CNN's Judy Woodruff, Gore said that O'Neill and Lindsey might turn out to be nothing more than "fall guys" if the administration does not take a new approach to the economy. "What we need is a new economic policy," Gore said, saying a "short-term stimulus package" has to be part of any new economic plan. From the Republican side of the aisle, Sen. Chuck Grassley, incoming chairman of the Senate Finance Committee, suggested in a statement that Snow has his work cut out for him. "We need a Treasury secretary who understands job creation," Grassley, R-Iowa, said. "Another is his earlier comments about cleaning up corporate wrongdoing. I agree that restoring confidence in corporations is a key part of rejuvenating economic growth." Snow's nomination must be confirmed by the Senate. Grassley said he hopes the nomination process would unfold "as quickly as possible." Capitol Hill Producer Ted Barrett contributed to this report.
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