Greenspan attacks Bush, says Republicans deserved to lose control of Congress

[dajoki]

Greenspan attacks Bush on economy

Mr Greenspan served under six US presidents
The former chairman of the US Federal Reserve Alan Greenspan has said President George W. Bush pays too little attention to financial discipline.
http://news.bbc.co.uk/2/hi/americas/6996713.stm

In a book to be published next week, Mr Greenspan says Mr Bush ignored his advice to veto "out-of-control" bills that sent the US deeper into deficit.

And Mr Bush's Republicans deserved to lose control of Congress in last year's elections, he charges.

<<snip>>

In The Age of Turbulence: Adventures in a New World, Mr Greenspan - who has described himself as a "lifelong libertarian Republican" - spares no criticism of the Republican party.

He writes that he advised the White House to veto some bills to curb "out-of-control" spending at the time Republicans controlled Congress.

President Bush's failure to do so "was a major mistake", he said.

"Little value was placed on rigorous economic policy debate or the weighing of long-term consequences," he says of the Bush administration.

And he charges that Republicans in Congress "swapped principle for power" and "ended up with neither".

"They deserved to lose."

[liberalmuse]

1. Greenspan was like a god under Clinton...

but unfortunately for him, under Bush, he was exposed as being nothing special. That had to have made him bitter. It turned out that Clinton really deserved all the credit for the fiscal responsibility/good economic times we once had. Go figure?