Inside the Beltway: Economics test

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By John McCaslin

ECONOMICS TEST

"It's the economy, stupid!" all over again.

And if not by university degree, the next president of the United States had better become an economist, and fast.

Leadership coach Stephen Xavier, whose list of clients includes Motorola, Goldman Sachs and Xerox, says the financial crisis suddenly dominating everybody's attention presents an even "tougher challenge" for the presidential contenders.

"Both candidates have gone on to play it rather safe politically through this economic crisis so far," he says, adding that "the best leadership, whether in business or politics, is set by bold example, not words."

He says Sens. John McCain and Barack Obama "have staked out strong and markedly different approaches on other key issues in this election, such as health care and social policy, but the economy may be the ultimate test of their judgment as possible leaders of the free world."

BETTER TO LEAD

In a recent ceremony sponsored by the U.S. Capitol Historical Society, former Republican Senate Majority Leader Howard Baker of Tennessee was presented with the prestigious 2008 Freedom Award.

Fittingly, Mr. Baker, who served 18 years in the Senate, was introduced by Sen. Robert C. Byrd, the still-energized West Virginia Democrat, who turns 91 next month.

"In an unusual - perhaps even unprecedented - set of circumstances, Senator Byrd and I served as each other's majority and minority leaders for eight very eventful years in the late 1970s and early 80s," Mr. Baker noted. "And while there are some things Senator Byrd and I disagree on, one thing on which we're in absolute agreement is that being majority leader is better."