Ailing economy forces Bush to revamp team

PRESIDENT George W Bush revamped his economic team yesterday as Treasury Secretary Paul O’Neill and economic adviser Larry Lindsey resigned at the request of the White House amid growing concern about the ailing economy.

Advisers to Mr Bush have been increasingly worried that a lagging economy could hamper the president’s re-election prospects. The unemployment rate rose to 6% yesterday, the highest in nearly nine years.

Presidential advisers have long recognised that a shakeup of the economic team would help indicate Mr Bush was doing everything he could to improve matters.