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While Federal Reserve Chairman Alan Greenspan is a loyal Republican, he has taken pains to avoid any appearance of partisanship. And for its part, the Bush Administration has refrained from publicly admonishing Greenspan over monetary policy. But that restraint evaporated last week when Budget Director Richard Darman, appearing on NBC's Meet the Press, accused the Federal Reserve Board of keeping interest rates too high because of an exaggerated concern about inflation. "If we do have a recession, I think it will be because they erred on the side of caution," said Darman...

Author: /time Magazine | Title: INTEREST RATES: The Sniping May Backfire | 8/28/1989 | See Source »

...postponed one meeting with Bush after the EPA's Reilly, in a move supported by Boyden Gray, argued for an idealistic plan that would have required half the cars in the nation's 20 largest cities to be powered by alternative fuels by the year 2000. Budget Director Richard Darman and Economic Adviser Michael Boskin worked for weeks to come up with the scaled-down version that eventually went to the President. Bush never saw the EPA's 50% proposal...

Author: /time Magazine | Title: George Bush: Mr. Consensus | 8/21/1989 | See Source »

...benefits from -- live skirmishes. Bush asks questions during the back and forth, takes copious notes on White House pads and often asks lower-level officials for their views. "He doesn't want filters," said a participant. "He actually wants to sit there at the table and listen to Darman fight with Reilly." Darman argued in one meeting that the clean-air proposals were too expensive for the health and safety benefits gained. "For the same amount of money," the Budget Director said, "we can buy everyone in America rubber- soled shoes, because the chance of being killed by toxic gases...

Author: /time Magazine | Title: George Bush: Mr. Consensus | 8/21/1989 | See Source »

After the Cabinet sessions, Bush repairs to the Oval Office and widens his net. He often invites Darman or Treasury Secretary Nicholas Brady along to go over this point or that; sometimes he turns it into a working lunch. Bush is soon on the telephone shopping the options around to his "sources" on Capitol Hill: Senator Robert Dole on political matters, Ohio Congressman Willis Gradison on health care and economic matters, Tennessee Republican Don Sundquist on tax questions. Following the May Cabinet debates over which countries to name as unfair traders under the new "Super 301" section...

Author: /time Magazine | Title: George Bush: Mr. Consensus | 8/21/1989 | See Source »

...group met repeatedly with environmentalists, industrialists and key lawmakers but gave them no hint of what its members were thinking. The President's advisers then fought it out among themselves at six meetings of the Domestic Policy Council. EPA administrator William Reilly pressed for stringent measures; budget boss Richard Darman argued that the cost did not justify the health and environmental benefits. Bush attended three of those meetings and called environmentalists and industrialists into the White House to present their cases directly to him. Finally, White House chief of staff John Sununu took three 30-page single-spaced option papers...

Author: /time Magazine | Title: Smell That Fresh Air! | 6/26/1989 | See Source »

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