Monday 25th of November 2024
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grant theft .....

 

grand theft .....

Ever wonder why the supposedly 'fiscally Conservative' Republican Party ALWAYS increases the nation's debt? Ever wonder why, in 2007, the United States will spend nearly a trillion dollars ($700 billion-plus) to fight a relatively small band of sandal-wearing thugs living in caves?

Sadly, Americans seem not to wonder about much of anything ... but they should. They should, because so-called Conservative Republicans are robbing the taxpayer blind and using the money to undermine the welfare of the American people.

Republicans & Massive Deficits

Burning a few bucks....

Greenspan attacks Bush on economy

The former chairman of the US Federal Reserve Alan Greenspan has said President George W Bush pays too little attention to financial discipline.

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.

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Greenspan also said: "I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil."

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

Mr Greenspan, 81, stepped down last year after nearly 19 years in the post.

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.
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Greenspan also said: "I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil."

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Gus: see cartoon at the head of this line of blogs...

memory lane

Remember when the granddad of the US economy was still at the wheel of the crash testing vee-hicle? Greenspan was no fool and, as head crash-testing dummy, he got out in time... But he knew where the vee-hicle (see M*A*S*H) was heading to and that the controls had seized up long ago... Bernanke only options was to fiddle with the clock-radio dials...

Remember when figures like 700 billions  where first mentioned (see too and blogs above)... MORE THAN A YEAR AGO... Is this a magic number? Not really, it's divisible by 7, by 5 by 2 by 10, by 4, by 20, by 100, by 35, etc... It could be the most inane number on earth... But in terms of spending as if there is no tomorrow, it fits the bill. And can be used over and over and over...