Richard Darman

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Richard_Darman_1983_9

Richard Darman

Richard Gordon Darman (May 10, 1943 – January 25, 2008) was an American economist and government official. He served as the Deputy Secretary of the Treasury, Director of the Office of Management and Budget (OMB), and as a key advisor to President George H. W. Bush.

Early Life and Education

Darman was born on May 10, 1943, in Charlotte, North Carolina. He attended Harvard College and graduated with a degree in economics in 1964. He later earned a law degree from Harvard Law School in 1967.

Career

Darman began his career as an economist, working for various government agencies and private organizations. In 1981, he joined the Reagan administration as Deputy Secretary of the Treasury. He later served as the Director of the Office of Management and Budget under President George H. W. Bush from 1989 to 1993.

During his tenure at OMB, Darman played a key role in shaping the administration's budget policies and was known for his tough negotiating tactics with Congress. He was instrumental in crafting the budget deals that led to the passage of the Omnibus Budget Reconciliation Act of 1990.

After leaving government service, Darman worked in the private sector as a consultant and advisor on economic and budgetary issues. He also served on the boards of several corporations and nonprofit organizations.

Legacy

Richard Darman is remembered for his contributions to fiscal policy and budget management during his time in government. His pragmatic approach to budget negotiations and his deep understanding of economic issues earned him respect from both sides of the political aisle.

Darman passed away on January 25, 2008, leaving behind a legacy of public service and dedication to sound fiscal policy.