Word: boskin
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WASHINGTON--President-elect George Bush will round out his economic team today by naming Richard G. Darman '64 as White House budget director and Michael J. Boskin as chairman of the president's Council of Economic Advisers, transition sources said yesterday...
Transition sources, who spoke only on condition that they not be identified, said the directorship of the White House Office of Management and Budget post would go to Darman, a former K-School lecturer, and that Boskin, a Stanford University economics professor, had been tapped to head the Council on Economic Advisers. Both nominations have been widely expected...
...Boskin helped inspire Bush's idea of a "flexibile freeze" in government spending to wipe out budget deficits now running at $155 billion a year. An authority on the Social Security system, Boskin argued in a recent book titled "Too Many Promises" that the program should be overhauled to separate its welfare and pension functions...
...Boskin proposed a two-tier system, with a flat monthly payment aimed at helping people stay out of poverty and the upper tier tied strictly to how much people paid into the system...
...economy from unionized, factory work to service-industry professions has brought a substantial loss of jobs with middle-class pay. The blue-collar jobs tended to be unionized, goes the argument, while the new service industries typically offer no such wage and , job protection. Says Michael Boskin, a professor of economics at Stanford: "Some sectors of the middle class that had implicit security in their jobs have been rudely awakened...