Former Federal Reserve Chairman Alan Greenspan sharply criticizes President George W. Bush's administration and Republican congressional leaders in his memoir for putting political imperatives ahead of sound economic policies, several newspapers reported on Friday.
"Little value was placed on rigorous economic policy debate or the weighing of long-term consequences," Greenspan writes of the Bush administration.
Republicans "deserved" to lose control of Congress in last year's election because in their willingness to approve spending measures that would benefit Republicans even at the cost of fiscal prudence, they "swapped principle for power," he said.
Now nothing that Greenspan says is really all that new, but it does show how far the Republicans have fallen that almost everybody feels like kicking them now that they are down.
My frustration with Greenspan is the same one I have with Colin Powell, why didn't they speak out when it would have done some good? I mean if you really love your country, are you not honor bound to sacrifice your career to save it?
Without a doubt the most interesting statement to come out of this book is this one: Of the conflict in the Middle East, Greenspan said: “I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.”
Many of us have believed this for some time, but to have Alan Greenspan confirm it is pretty amazing.
isn't his Book going to make life difficult for his wifey ? Andrea Mitchell ?
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