Via WaPo: Bush to Change Economic Team

President Bush plans to overhaul his economic team for the second time in two years and wants to tap some prominent replacements from outside the administration to help sell rewrites of Social Security and the tax laws to Congress and the country, White House aides and advisers said over the weekend.

Aides said changing four of the five top economic officials — including the Treasury and Commerce secretaries, with only budget director Joshua B. Bolten likely to remain — is part of Bush’s preparation for sending Congress an ambitious second-term domestic agenda.

What? No “consolidating of power” by appointing “yes men”–amazing!

Too funny:

One senior administration official said Treasury Secretary John W. Snow can stay as long as he wants, provided it is not very long. He might stay as long as six months into the term, officials said.

And as far as replacements go:

Friends say Chief of Staff Andrew H. Card Jr. is one possibility to replace him. Bolten also could move over.

But Republican officials said Bush is also considering well-known officials from outside, including New York Gov. George E. Pataki (R). Conservatives are pushing for former senator Phil Gramm, a Republican from Texas.

Also under consideration is John J. Mack, who stepped down in June as co-chief executive of Credit Suisse Group. Mack has also been considered to lead a bipartisan commission on changing the tax system that Bush will appoint to develop recommendations for the Treasury secretary.

[…]

A possible replacement for Friedman is Tim Adams, who was policy director of the reelection campaign and was chief of staff to Snow and his predecessor, Paul H. O’Neill. But officials said Adams is more likely to become the deputy chief of staff for policy — a job that came open when Harriet Miers, who currently holds the job, was named White House counsel.

Another possible Friedman replacement is Samuel W. Bodman, the deputy Treasury secretary, who has indicated he wants to leave that job. Adams could also succeed Bodman, officials said.

For Mankiw’s slot, the White House has courted Massachusetts Institute of Technology professor James Poterba, an expert on Social Security and taxes.

And in re: the Friedman exit:

Friends said Friedman announced last week that he was leaving because it became clear to him that he would not be named Treasury secretary.