Does the influence of the CEA vary from Administration to Administration?
I’m sure it does, but it’s hard to judge. Most White House decision-making in any Administration is not in public view. When I was there, it worked very efficiently…. Essentially, CEA works as an internal economic think tank for the President. Did you believe you had more or less influence as your term progressed? I always felt very good about the process. I thought the right people were in the room to discuss whatever issue was pressing, and that all the options were presented to the President. Ultimately, it’s his decision. Business is being really quiet on the issue of Social Security. Does that concern you? The business community thinks about issues that have a very direct impact. The job of the CEO, after all, is to maximize shareholder value, not to be a philosopher or king. What Social Security reform does affect, however, is the state of fiscal policy, which in turn will affect future budget deficits, as well as the level of taxation. And the fiscal health of the nation depen
