IN THE NEWS

Statement of Democratic Whip-Elect Steny Hoyer on President's New Economic Team

WASHINGTON – House Democratic Whip-Elect Steny H. Hoyer (D-MD) released the following statement today regarding press reports that President Bush intends to nominate John W. Snow to be Treasury Secretary and to appoint Stephen Friedman as the top White House economic advisor:

"John Snow and Stephen Friedman appear to be well-qualified, capable individuals, but the real issue here is not about personalities.

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. The economic problem that this Administration faces cannot be dealt with by changing personnel or better salesmanship.

The problem this Administration faces – and has yet to deal with – is that its economic plan is failing the American people. Today and tomorrow, House Democrats will be meeting to begin the process of producing a clear, positive economic program that meets the needs of the American people."

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