Larry Lindsey | |
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4th Director of the National Economic Council | |
In office January 20, 2001 – December 12, 2002 | |
President | George W. Bush |
Preceded by | Gene Sperling |
Succeeded by | Steve Friedman |
Member of the Federal Reserve Board of Governors | |
In office November 26, 1991 – February 5, 1997 | |
President | George H. W. Bush Bill Clinton |
Preceded by | Manuel H. Johnson |
Succeeded by | Roger W. Ferguson Jr. |
Personal details | |
Born | Peekskill, New York, U.S. | July 18, 1954
Political party | Republican |
Spouse | Susan Lindsey (Divorced 2013) |
Children | 3 |
Education | Bowdoin College (BA) Harvard University (MA, PhD) |
Lawrence B. Lindsey (born July 18, 1954) is an American economist and author. He was director of the National Economic Council (2001–2002), and the assistant to the president on economic policy for George W. Bush. Lindsey previously served as a member of the Federal Reserve Board of Governors from 1991 to 1997, nominated to position by President George H. W. Bush. During his time with George W. Bush administration he played a leading role in formulating President Bush's $1.35 trillion tax cut plan, convincing candidate Bush that he needed an "insurance policy" against an economic downturn. He left the White House in December 2002 and was replaced by Stephen Friedman after a dispute over the projected cost of the Iraq War. Lindsey estimated the cost of the Iraq War could reach $200 billion, while Defense Secretary Donald Rumsfeld estimated that it would cost less than $50 billion.[1] The overall cost of the Iraq War has been estimated by the Congressional Budget Office to be approximately $2.4 trillion.