In the spotlight: John W. Snow
He spent 20 years at the CSX Corporation-a global transportation company-where, as chairman and CEO, Snow radically reduced injuries and train accidents before jumping ship to the public sector.
The 65 year-old law graduate and doctor of economics served government in the National Highway Traffic Safety Administration before rising to the Governmental Affairs department and then becoming Deputy Assistant Secretary for Policy, Plans and International Affairs.
Snow has also gained prominence as a leader on the issue of corporate governance, serving on many committees that have dealt with the problem. Most notably, he was co-chairman of the Blue Ribbon Commission on Public Trust and Private Enterprise.
Even before taking charge of the Treasury, Snow was widely known as a "life-long deficit hawk" and a supporter of a strong dollar. However, his credibility is being called into question, as the U.S. deficit continues to balloon, and the dollar continues to sink. Most analysts now agree that Snow's advocacy of a strong dollar is not much more than 'lip service.'
Under Snow's leadership, the current account deficit has also widened to $660 billion, or five percent of the U.S.'s GDP. On his recent visit to Ireland, Snow called the current account deficit a "shared responsibility." According to him, while the U.S. works to control it's budget deficit, European governments have to "remove barriers to growth," which include high taxes, restrictive labor laws, and generous pension plans. (A.K.)
The 65 year-old law graduate and doctor of economics served government in the National Highway Traffic Safety Administration before rising to the Governmental Affairs department and then becoming Deputy Assistant Secretary for Policy, Plans and International Affairs.
Snow has also gained prominence as a leader on the issue of corporate governance, serving on many committees that have dealt with the problem. Most notably, he was co-chairman of the Blue Ribbon Commission on Public Trust and Private Enterprise.
Even before taking charge of the Treasury, Snow was widely known as a "life-long deficit hawk" and a supporter of a strong dollar. However, his credibility is being called into question, as the U.S. deficit continues to balloon, and the dollar continues to sink. Most analysts now agree that Snow's advocacy of a strong dollar is not much more than 'lip service.'
Under Snow's leadership, the current account deficit has also widened to $660 billion, or five percent of the U.S.'s GDP. On his recent visit to Ireland, Snow called the current account deficit a "shared responsibility." According to him, while the U.S. works to control it's budget deficit, European governments have to "remove barriers to growth," which include high taxes, restrictive labor laws, and generous pension plans. (A.K.)
