O'Neill: going, going, gone? - Off The News - Treasury Secretary Paul O'Neill - Brief Article

International Economy, The, Nov-Dec, 2001

Embattled Treasury Secretary Paul O'Neill is likely to be among the first casualties, when President George W. Bush shakes up his Cabinet, possibly as early as this winter. White House sources say the President has privately lost all confidence in O'Neill, who has made legions of enemies all over Washington because of his insulting I-know-better attitude.

Conservative Republicans in Congress have told Bush that they want O'Neill out. They are outraged because he mocked their proposals for a post-September 11 economic stimulus package as "stupid." At a closed-door meeting, leading conservatives confronted O'Neill, complaining that they resented his insulting public comments. When he denied having made such remarks, one conservative lawmaker produced a written transcript of what he had said. "It was bad enough that they thought he was arrogant," says one administration official. "Now they think he's a liar, too."

White House sources say O'Neill now admits privately that he has become a liability, a sign that he may not need a big shove to resign. Still, his departure may be delayed until the White House finds a successor. Finding a Treasury Secretary at the start of the administration was a struggle, and the White House doesn't want to make a bad choice again.