Wednesday, September 19, 2007

Greenspan to Bush: Quit Spending!

Former Federal Reserve Chairman Alan Greenspan is highly critical of President Bush.

In Greenspan's book, The Age of Turbulence, Greenspan wrote "My biggest frustration remained the president's unwillingness to wield his veto against out-of-control spending." He goes to criticize a string of tax cuts, which resulted in declining revenues. Let me get this straight, Bush spends more, cuts income and that results in a current debt of over $9,000,461,329,297.77. That's the official department of treasury number. At least Democrats tax and spend. Bush just spends, spends, spends.

What happened to fiscal conservatives? In a time of war, I understand we need to spend on defense. Do we really need to give tax cuts to the wealthy?


Phil Cardarella said...

NOW he tells us!

Mightn't it have been more helpful to have mentioned this little criticism earlier? Oh.. say around $8 or $9 TRILLION ago?

Anonymous said...

Isn't there a debt ceiling on 9 trillion dollars?