Greenspan warns of growing deficit
New York Daily News - Business - Greenspan warns of growing deficit
Asshole. If you want to give him the benefit of the doubt, you could say he is too senile to remember that he green-lighted the disasterous tax cuts that brought us to this sorry place. I would not be so generous.
Mr. Andrea Mitchell thereby solidifies his claim to this year's Colin Powell Award for most temporally displaced job performance by an administration official who helped to create the very problem he publicly acknowledges now that it is someone else's job to deal with it.
Fed chairman Alan Greenspan expressed concerns that America's failure to deal with its exploding budget deficit and worldwide efforts to erect trade barriers could disrupt the global economy.
Speaking at an economic conference in London, Greenspan said so far the U.S. has had no problem financing its current account trade deficit, which last year hit a record $668 billion, because of the flexibility of the American economy.
But he said such flexibility would be threatened by rising protectionism, which would increase barriers to the flow of goods and investments across the U.S. border. He also worried about the harm that could be done if the United States and other nations do not get their budget deficits under control.
"If ... the pernicious drift toward fiscal instability in the United States and elsewhere is not arrested and is compounded by a protectionist reversal of globalization, the adjustment process could be quite painful for the world economy," Greenspan said.
Asshole. If you want to give him the benefit of the doubt, you could say he is too senile to remember that he green-lighted the disasterous tax cuts that brought us to this sorry place. I would not be so generous.
Mr. Andrea Mitchell thereby solidifies his claim to this year's Colin Powell Award for most temporally displaced job performance by an administration official who helped to create the very problem he publicly acknowledges now that it is someone else's job to deal with it.
posted by bluememe at 12/03/2005
3 Comments:
"If ... the pernicious drift toward fiscal instability in the United States and elsewhere is not arrested and is compounded by a protectionist reversal of globalization, the adjustment process could be quite painful for the world economy," Greenspan said."
The word Pernicious means (among other things):
bad, baleful, deadly, deleterious, destructive, detrimental, evil, fatal, harmful, injurious, malefic, malign, nefarious, noxious, poisonous, ruinous, sinister, toxic, venomous, vicious, vile, wicked, etc.
It is wonderful to hear that Greenspan has finally labeled the Bushonomics and the Republican Conservative Agenda for what it truly is for America: All of the above.
If I could have I actually believe I would have strangled the s.o.b. when ha said million of Americans paid thousands more on home loans because they switched from a.r.m.s to fixed rate. Asshole. I switched because he kept raising the rates. If figures the one guy Bush kept on from his daddy's and Clintin's adnministations would be this loser..oh wait a minute, I listened to him and that makes me the loser.
Great minds think alike.
[/blogwhoring]
Just another in a long, long line of lies from everyone involved with this misadminstration. The real surprise would have been had Greenspan told the truth about tax cuts in the first place.
Post a Comment
<< Home