Hubbard resigns from White House

President Bush’s top economic advisor Al Hubbard will resign at the end of the year and be replaced by his deputy, the White House announced Wednesday.

The resignation of Hubbard, who served as the director of the National Economic Council, comes amid growing concerns about the state of the U.S. economy that could pose political perils for Bush and congressional Democrats. House Democrats are mulling an economic summit next week as a way to seize a political advantage on a potential recession, which they hope would be blamed on Bush.

{mosads}Hubbard was a top White House official on energy policy and also represented the administration in negotiations with Democrats in Congress on expanding a health insurance program for children. In addition, he led President Bush’s unsuccessful attempts to reform Social Security and the tax code after Bush won his second term.

“Al Hubbard has led the economic policymaking process in my administration for some of the most challenging economic issues confronting our nation,” Bush said in a statement released by the White House. “His work has resulted in creative, sensitive policies that have helped Americans continue to compete and prosper and live better lives.”

Bush said Hubbard would be replaced Keith Hennessey, a former staffer for Sen. Trent Lott (R-Miss.) on the Senate Budget Committee who is now a deputy on the National Economic Council.

Hubbard is the latest in a line of top advisors to the president who have left the White House in recent months. He joins Frances Townsend, the assistant to the president on homeland security; Dan Bartlett, a counselor to the president; and Deputy Chief of Staff Karl Rove.