Thursday, April 21, 2005
Reality vs. The Bush League: Greenspan Attacks!
It appears Alan Greenspan has switched sides and is now calling The Bush League's economic policies unsustainable:|
"Under existing tax rates and reasonable assumptions about other spending ... projections make clear that the federal budget is on an unsustainable path, in which large deficits result in rising interest rates and ever-growing interest payments that augment deficits in future years," Greenspan said in testimony prepared for a Senate Budget Committee hearing.Hopefully James Wolcott is right, and The Bush League's power is waning. (Spring Breaks.) It usually takes more than one or two good smacks to terminate a cockroach, though, otherwise it scuttles back into the dark, recovers, and returns.
(Source: Reuters Greenspan Warns Deficits Endanger Economy April 21, 2005 [Emphasis added.])