Greenspan Calls for Congress to Let All Bush Tax Cuts Expire

[babsbunny]

http://www.businessweek.com/news/2010-07-16/greenspan-calls-for-congress-to-let-all-bush-tax-cuts-expire.html

July 16 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan, whose backing of George W. Bush’s 2001 tax cuts helped persuade Congress to pass them, said lawmakers should allow the reductions to expire at the end of this year.

“They should follow the law and let them lapse,” Greenspan said in an interview on Bloomberg Television’s “Conversations with Judy Woodruff,” citing a need for the tax revenue to reduce the federal budget deficit.

[jwirr]

1. At least he is right this time.

[Oceansaway]

2. K&R...n/t

[RKP5637]

3. Trying to rid himself of his feelings of guilt IMO. n/t

[Curmudgeoness]

4. I always wondered at his godlike appeal, but at least he can say he's wrong.

Wrong about a lot of things that have devastated this country. Why do they always get "religion" after the fact?

[mrcheerful]

6. Because hind sight is 20/20, the problem is the future is an unknown and these clowns

try to predict whats going to happen 10 or 20 years ahead and make plans to head off the future disaster, which never has worked because they are missing a lot of data on what tomorrows events will be. They rely on current events and trends which is like paying your bills on what you think they will be based on last months bills without knowing what you used this month. You are often close but you also run the risk of paying to much or to little.

[Curmudgeoness]

8. Yep, the future is an unknown. But I am sure I am not the only one

who looked at the predictions and decisions that Greenspan made, and said "huh!" And now he says he had believed in companies doing the right thing. Lord help us all.

[gateley]

9. Well said. nt

[mod mom]

5. Shocking! but good.

[The Backlash Cometh]

7. Typical Greenspan.

He uses the Democrats for the tough policies, and allows the Republicans to dismantle everything.

What a pinhead.

[hfojvt]

10. if Democrats followed his advice it would create a political backlash

Voters in the bottom 70% who lost their Bush tax cut, would almost certainly take it out on Democrats, and once elected, Republicans would almost certainly pass a new round of tax cuts for the rich.