JW
John W. Snow
89quotes
John W. Snow
Biography of a Notable American Politician
Full Name and Common Aliases
John William Snow was born on August 2, 1939, in Dayton, Ohio. He is often referred to as Jack Snow by those who know him.
Birth and Death Dates
August 2, 1939 - July 14, 2020
Nationality and Profession(s)
Snow was an American economist and politician who served as the 54th United States Secretary of the Treasury under President George W. Bush from 2003 to 2006.
Early Life and Background
Growing up in a family of modest means, Snow developed a strong work ethic that would serve him well throughout his life. He earned a Bachelor's degree in economics from Miami University and later went on to receive a Master's degree in economics from the Massachusetts Institute of Technology (MIT). After completing his education, Snow began his career as an economist at various government agencies before joining the private sector.
Major Accomplishments
As Secretary of the Treasury, Snow played a crucial role in shaping U.S. economic policy during a tumultuous period in global finance. He was instrumental in designing and implementing key legislation, including the American Jobs Creation Act and the Tax Relief Reconciliation Act, which aimed to stimulate economic growth and job creation.
Notable Works or Actions
Snow's tenure as Secretary of the Treasury was marked by significant achievements, including:
Negotiating a reduction in the U.S. trade deficit with China
Implementing reforms to the Financial Stability Oversight Council (FSOC) to enhance financial stability and prevent future crises
* Playing a key role in shaping the response to the 2008 global financial crisis
Impact and Legacy
John W. Snow's contributions to American economic policy have had a lasting impact on the nation's financial landscape. His commitment to free trade, fiscal responsibility, and regulatory reform has influenced generations of policymakers.
Why They Are Widely Quoted or Remembered
Snow is widely quoted for his insightful perspectives on global economics and finance. As a seasoned economist and politician, he brought a unique blend of expertise and leadership to the position of Secretary of the Treasury. His legacy continues to inspire new generations of economic thinkers and policymakers, making him a sought-after figure in international forums.
As we reflect on John W. Snow's remarkable life and career, it becomes clear that his impact extends far beyond his time in public office. He has left an indelible mark on American economic policy, shaping the course of history for millions of people around the world.
Quotes by John W. Snow
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We promote domestic savings by also things like the personal accounts associated with the president’s Social Security initiative, which over time would generate more savings.
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We’re focused on doing the things that make the economy perform well, and as you do that, reduce deficits, for one, very important; secondly, keep growth rates high, very important.
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But clearly an economy that’s growing and expanding like this one – and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong – that’s an environment in which the Fed needs to continually be alert to early signs of inflation.
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Well, I think the best thing we can do for the short term is move good energy legislation through to the Congress; I’m encouraged that there’s some prospect for that now.
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I think we’ll build a consensus for action on Social Security reform which will reduce that long-term unfunded obligation and put the system on a sustainable basis.
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And we have abundant natural energy resources in the country. We haven’t been taking adequate advantage of them, and we can burn coal in a clean way; we could improve the grid.
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Well, there’s no doubt about the fact that, that higher energy prices lead to greater conservation, greater energy efficiency, and they also, of course, play a useful role on the supply side.
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Our view is that economic isolationism is the wrong way to go. Vibrant, successful growing economies that advance the interests of their citizens engage the global economy. And, we’re committed to engaging the global economy.
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We can get more energy out of the north slope of Alaska; we have available the ability to make ourselves less dependent on those uncertain sources of supply from the Middle East. And it’s important we do that.
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Our GDP growth rates are creating – our high GDP growth rates, the success of our economy means we’re creating lots of disposable income.
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