Does this sound like a man who believes we’re about to embark on a new vigorous growth spurt?
If it’s just “politics as usual” why aren’t Republicans/conservatives supportive?
What Greenspan is saying is the sad truth I think… I wished Obama would have said it 2 years ago… read on:
“Our choices right now are not between good and better; they’re between bad and worse. The problem we now face is the most extraordinary financial crisis that I have ever seen or read about.”
He said the country’s fiscal problems could not be solved by higher taxes alone. “We are going to have to confront a major surge in medical entitlement spending. Irrespective of what you say should be done on the tax side, you still have to cut some benefits on the expenditure side.”
Greenspan Calls for Repeal of All the Bush Tax Cuts
Lastly … the article by Matt Taibbi on how FinReg was sausaged into reality is outrageous. The maneuverings of Dodd-Frank go way beyond usual political machinations - it's legislative bait and switch - although legal, it is totally unethical. If Taibbi's sources are real and verifiable, the Democrats have just handed plenty of ammo to the Tea Partiers come Fall.
Wall Street’s Big Win
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