Fed Chairman Greenspan Warns of Budget Deficit

[NNN0LHI]

http://story.news.yahoo.com/news?tmpl=story&ncid=716&e=6&u=/ap/20040211/ap_on_bi_ge/greenspan

WASHINGTON - Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) said Wednesday the economy had been showing "impressive gains," even as he warned that mushrooming federal budget deficits could derail the progress. snip

He tempered his optimism with a dose of caution about the dangers of budget deficits.


Last week, the Bush administration projected that this year's deficit will reach a record $521 billion.


"Federal budget deficits could cause difficulties even in the relatively near term," Greenspan told the House Financial Services Committee.


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[Webster Green]

1. No shit, Sherlock!

This guy is a fucking genius!

[jean]

2. mushrooming deficit? Not a mushroom cloud? Let's reframe this one too

[Homer12]

3. Buscho and his GOP whores in congress

Will just have to cut all non-defense spending as well as corporate welfare and put more of the burden on the middle class.

It's all about destroying the middle-class, the power base for the Democrats.

[9215]

4. Well, we can't say

he didn't warn us. :eyes:


:nuke:

[Demeter]

5. Greenspan Has a Lot of Nerve

Where was he when the tax cuts were proposed? Ouut there giving his blessing. Such a prick!

[bushwakker]

6. It's a little late Al

Greenspan had a chance to do the right thing a long time ago and proved himself to be a partisan hack. He was a cheerleader for the reckless tax cuts that produced this mountain of debt and it's too late for him to have it both ways. If you recall the first round of AWOL's tax cuts were on thin ice in the senate but Greenspan's blesssing gave them the final push they needed to pass. Now he tries to be Mr Fiscal Responsibility. What a joke. Dean is right - AG is a political hack.