Pete Domenici: “the American economy has changed dramatically in the past decade. International economic policy now has a direct effect…”

“the American economy has changed dramatically in the past decade. International economic policy now has a direct effect on our domestic economy. The information age has transformed America's economic future. Budget surpluses now suggest the very real possibility of paying down the national debt. This new economy requires a new kind of Treasury secretary. It requires someone who is experienced and knowledgeable in both the domestic and the international marketplace. It requires someone who has demonstrated exemplary leadership in both government and private enterprise. Experience and leadership Paul O'Neill will bring these vital skills to the Department of Treasury. Paul O'Neill's outstanding career in both the public and private sectors has clearly demonstrated his ability to serve as our Nation's next Treasury Secretary. In 1967, he stated as a policy analyst for the Office of Management and Budget. However, his skill and intelligence were quickly noted by OMB Director George Shultz, who promoted him to serve as Associate Director with responsibility for social programs. At OMB, Paul O'Neill gained a reputation for his sharp analysis and his keen understanding of a wide variety of issues. In fact, he displayed such strong leadership and gained such respect from both parties that in 1976, President Jimmy Carter asked him to serve as his Deputy Treasury Secretary.”