From Politico -- Herman Cain's economic adviser is not an economist:
Herman Cain says his much-touted 9-9-9 plan is the product of extensive testing and thinking, but the only man he cited as involved with its research — Rich Lowrie of
Herman Cain says his much-touted 9-9-9 plan is the product of extensive testing and thinking, but the only man he cited as involved with its research — Rich Lowrie of Cleveland, Ohio — is not a trained economist.
Instead, Lowrie — who’s the only economic adviser Cain has been willing to mention by name — is a wealth manager for a division of Wells Fargo and according to his LinkedIn page holds an accountancy degree from Case Western Reserve University. Lowrie also spent three years on the advisory board of the conservative third-party group Americans For Prosperity.
The former Godfather’s Pizza CEO was pressed for his circle of economic advisers at Tuesday’s debate in response to a question from moderator Karen Tumulty of the Washington Post.
“My advisers come from the American people. Now, I will have some experts. One of my experts that helped me to develop this is a gentleman by the name of Rich Lowrie out of Cleveland, Ohio,” Cain said during the debate. “He is an economist, and he has worked in the business of wealth creation most of his career.”
Who is this "Rich Lowery?" Is he an Economics Nobel Laureate? A former high-ranking Federal Reserve official, like Herman Cain himself? Actually, the crack news team at the Spencer Daily Reporter of Spencer, Iowa reveals him to be Rich Lowrie, a wealth management adviser with an accounting degree.
Lowrie, who has affiliations with the American Conservative Union and Americans for Prosperity, was a donor to Mitt Romney's 2008 presidential campaign efforts, but has since drunk the pizza-sauce-flavored Kool-Aid — excuse me, the "pure rocket fuel" — of Cain's economic policies. Of course, as an employee of a division of Wells Fargo, a firm that received $25 billion in TARP funds, Lowrie may not be the best spokesman for Cain's free-market oriented policies. There's another lesson Cain learned in the chain pizza biz: don't let the diners get a close look at the sous-chefs.
Rep. Michele Bachmann took a shot at Herman Cain's 9-9-9 plan during the Oct. 11th GOP debate hosted by The Washington Post and Bloomberg.
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