 |
Phil GrammAmerican economist and politician
Country:
 USA |
Content:
Early Life and Education
William H. Gramm was born in Fort Benning, Georgia, and grew up in nearby Columbus. His father, Kenneth, suffered a stroke and became partially paralyzed shortly after William's birth. Kenneth passed away when William was only 14 years old. His mother, Florence, was forced to work two jobs as a nurse at a veterans hospital.
William graduated from Georgia Military Academy in 1961 and received his undergraduate degree from the University of Georgia in 1964. He went on to earn a PhD in economics from the University of Georgia in 1967.
Early Career
From 1967 to 1968, Gramm taught in Texas while also leading the consulting group Gramm & Associates. He unsuccessfully ran for Congress in 1976, but was elected to the House of Representatives in 1978.
Congressional Career
Gramm was re-elected in 1980 but faced a setback in 1982 when he was removed from the House Budget Committee for supporting President Reagan's tax reforms. He resigned and ran again as a Republican, serving from 1983 to 1985.
Senatorial Career
In 1984, Gramm was elected to the U.S. Senate as a Republican from Texas. He served on the Senate Budget Committee from 1989 to 2003. In 1990, he was re-elected to a second term.
From 1995 to 2000, Gramm chaired the Senate Committee on Banking, Housing, and Urban Affairs. In 1996, he ran for president as a Republican but withdrew after losing the Louisiana primary.
Post-Senate Career
Gramm left the Senate voluntarily in December 2002 before the end of his term. He has been a senior economic advisor to the John McCain presidential campaign and is currently a vice chairman in the investment banking division of UBS AG.
