Former Bush economist renounces the Republican Party: 'Count me out'
Former George W. Bush economist Greg Mankiw (Photo: screen capture CNBC)

On Monday, Harvard economics professor Greg Mankiw, a former adviser to President George W. Bush and a popular author of high school economics textbooks, announced on his blog that he is renouncing the Republican Party.

"The Republican Party has largely become the Party of Trump," wrote Mankiw, who is known for writing the 10 Principles of Economics. "Too many Republicans in Congress are willing, in the interest of protecting their jobs, to overlook Trump's misdeeds (just as too many Democrats did for Clinton during his impeachment). I have no interest in associating myself with that behavior."

"Maybe someday, the party will return to having honorable leaders like Bush, McCain, and Romney," Mankiw continued. "Until then, count me out."