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Romney’s economist, R. Glenn Hubbard

By Laurie Bennett

October 19, 2012 at 7:23am

The New York Times called him Romney’s “go-to economist.” The Huffington Post labeled him the candidate’s “economic hit-man.”

R. Glenn Hubbard, dean of Columbia Business School and former chairman of the Council of Economic Advisers, is also one of the Muckety 400, the most connected and influential people in our database of connected and influential people.

Described by the Times as “unabashedly partisan,” Hubbard advises Romney in the current campaign, just as he did in 2008. If Romney wins, he’s in a strong position to serve as the next Treasury secretary and perhaps Fed chairman.

A former deputy assistant secretary of the Treasury under George H.W. Bush, he is taking advantage of his time outside government to rake in fees as a corporate director and adviser.

R. Glenn Hubbard
R. Glenn Hubbard

He collected more than $760,000 in cash and stock last year for his work on the boards of three publicly traded companies: Automatic Data Processing, KKR Financial Holdings and MetLife.

Hubbard is a conservative who has been sharply critical of President Obama. He co-wrote a position paper called “The Romney Program for Economic Recovery, Growth and Jobs,” saying that the country took a wrong turn over the last three years.

“Rather than focusing on the structural problems revealed by the financial crisis and the ensuing recession, the Obama administration focused on short-term fiscal ’stimulus,’” he wrote. “To put the economy back on track, they borrowed deliberately and spent recklessly, ignoring weaknesses in housing, business investment, and employment. These short-term stimulus packages were ineffective, leaving the nation with higher debt, which acts as a drag on long-term growth because households and businesses understand that the administration must raise taxes significantly to pay off that debt.”

David Segal writes in the Times that if Hubbard were to take over the Treasury, tax cuts would probably be his first priority.

Hubbard has also said he would like to see the Federal Reserve become less politicized.

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