The Price of Loyalty: George W. Bush, the White House, and the Education of Paul O'Neill (Hardcover)

The book shows that a number of White House insiders or heads of government institutions (notably Alan Greenspan at the Fed) are not very comfortable with the ideologues currently running the White House. Lost in a lot of the attention that O'Neill is getting is the fact that other White House folk have also spoken off record. Reading the book--and I generally find it is easier to talk about something you have actually read instead of something you merely make up in your head--it is pretty certain that Alan Greenspan was also interviewed for the book and is one of those who spoke off the record. I would also bet that Christine Todd Whitman, former head of the EPA (another one who wanted policy to be based on verified data), was another. It is absolutely definite that either Colin Powell or several members of the State Department (unquestionably with his blessing) cooperated in the making of the book. Possibly other nonideologues like Condileeza Rice or one of her aides talked with Suskind.

The mistake that many are making is assuming that O'Neill is merely doing this out of revenge. It is almost impossible to support that theory after reading the book.

I think the is one of the most important books that has been published in the past two years on any subject. The Bush White House has largely been an impenetrable bastion. Now we have a vivid picture of the inner workings of the White House as presented by multiple insiders, most speaking off the record because they are still working for Bush. But O'Neill and the massive amount of documentation he provided for Suskind has performed a huge public service. I don't think anyone should consider voting for George W. Bush in 2004 unless they have read this book first.

According to the former Secretary of the Treasury, Bush and Cheney dominate the White House. Bush leads based on stubbornly held personal opinions, and Cheney executes the plans reflecting the President's opinions. Occasionally, Cheney feeds opinion to Bush when the latter has none to begin with. But, everyone else is just there to make a case for supporting these same opinions. Thus, most of the Presidential decisions are not well founded in objective intelligence.

Within this managerial climate, there is no room for intellectual debates, exchange of information, or even consensus building. It is pretty much Bush and Cheney's ways or the highway. Paul O'Neil, an intelligent, assertive, and independent thinker, did not fit within these parameters, and Cheney quickly showed him the next highway exit.

When Paul O'Neil was recruited as Secretary of the Treasury, he seemed to fit very well with the Administration. He fit perfectly the mold of the old guard intelligentia who had reached the top level in business, with also much government experience. He is definitely a conservative, pro business fellow. He seemed just another of the old boys. But, things did not turn out that way.

Paul O'Neil, an independent thinker, ended up clashing at every turn with the Administration. He is a conservative. But, that does not mean he is a unilateralist in foreign policy. Thus, he felt highly uncomfortable with the lack of strong international support for our invading Iraq.

On the domestic front, O'Neil felt very uncomfortable with the progressive dismantling of our strong fiscal position we had inherited from the Clinton White House. For him being conservative also means fiscally conservative. It does not mean unraveling the Federal government. O'Neil felt strongly that beyond the first tax cut that was necessary, the following rounds of tax cutes were dangerous as they created a rising structural budget deficit.

Finally, with his strong background in business and economics, he felt that the steel tariffs were totally unjustified and would trigger a rise in trade conflicts and unfruitful WTO trade negotiations.

If you objectively review O'Neil's positions, he is typically right. And, the Bush-Cheney team is not. Our level of unilateralism can easily be considered excessive. The rounds of tax cuts were much too deep and did create a rising structural deficit. Also, the steel tariffs did poison the WTO round at Cancun and the overall worldwide trading climate. Recently, under pressure of penalties from the WTO, Bush had to eliminate these same steel trade tariffs. The later did not achieve anything besides political embarrassment in the international arena.

Interestingly enough, the Bush-Cheney team has chosen not to address any of the issues raised by O'Neil. But, instead they are conducting an investigation on potential government information leaks. This is probably another effort to shut O'Neil's mouth once and for all. But, the jack is out of the box. Take advantage of it. This is a must read during this Presidential election year.

This book also nicely complements other related recent books such as Paul Krugman's 'The Great Unraveling' and David Cay Johnston 'Perfectly Legal.' Reading these three books will make you a much better informed voter regardless of your party's stripes.

Price of Loyalty by Paul O'Niel is very revealing and a must read for anyone who truely loves this country. Remember, O'Niel was an insider who personally witnessed many things that this adminstration would love to keep quiet.