My father said he didn’t know what I did for a living until I showed him a $10 bill.
“Look, that’s where I work,” I said, displaying the image of the Treasury Department. “You can even see my window.”
He was shocked. He even showed $10 bills to his friends, proudly telling them the story.
But I wasn’t sure I wanted to work there in 1977. During a shake-up, I had been ousted from my job as a supervising editor at Associated Press and transferred to Capitol Hill.
After that, I loved covering Congress! There was so much action! There were so many famous people: Sens. Edward Kennedy, Hubert Humphrey and Barry Goldwater. Members fawned over wire service reporters, hoping their words would reach constituents. We got the best seats at congressional hearings.
The place was overflowing with young people, especially beautiful women whom congressmen seemed to hire en masse. You figured any woman who was even middle-aged was probably super competent or knew some dark secrets.
Then, an opening appeared for AP’s Treasury correspondent. I was sent there over my own objections. I didn’t want to leave. Unlike Congress, the Treasury was filled with old bureaucrats who were marking time until retirement. They looked down on wire services, hoping to influence fellow insiders through the New York Times, Wall Street Journal or Washington Post.
But eventually, I liked it. For one thing, I believe I got more bylines than the White House staff because there were three of them and only one of me. I covered a huge swath of the government, almost everything with a dollar sign on it.
Other staffers considered me a guru on finance when I wasn’t. Sure, I analyzed the federal budget and even wrote specials on how to file your income tax returns. But I had a professional do my taxes.
If anyone questioned a story, I would say something like, “It all depends on the nondefense capital goods sector,” and that would shut them up. (It really means simply refrigerators and cars.)
I often thought about how much better this was than sitting in an office with a row of typewriters and a boss watching over me. There were only four of us in the Treasury press room: AP, UPI, Reuters and Dow-Jones/Wall Street Journal. The one exception was the time a media company sent several pretty young women over to get a break on press announcements. Playing darts with these gals was something we wouldn’t have done at the main office!
But after awhile, it became a burden covering so much of the government and trying to make sense out of the meaningless economic indicators that came out monthly.
I quit and went to U.S. News & World Report, which was more analytical than AP. My new editor complained to me once, “This reads just like an AP story.” He meant it as an insult. I took it as a compliment.





