Posted on 09/13/2008 7:25:30 PM PDT by boroman
CHICAGO (Reuters) - Presidential candidate Barack Obama's campaign on Saturday seized on comments from former Federal Reserve Chairman Alan Greenspan, who questioned the affordability of broad new tax cuts.
Greenspan told Bloomberg News he was "not in favor of financing tax cuts with borrowed money" when asked if the United States could afford big tax cuts such as those proposed by Republican John McCain.
(Excerpt) Read more at reuters.com ...
Andrea Mitchell’s husband. What did you expect?
He is the same a$$hole that saw the housing bubble and easy credit, yet did nothing.
Coward and liberal whimp.
I thought Obama claims he is for the biggest tax cut. What an idiot. McCain IS going to cut spending, Obama isn’t.
Greenspan was advocating the reduction of the Federal Government - sure glad Barry jumped on that!
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Greenspan was part of the Bush years. We want change.
“Obama campaign, manages to get on base with under-handed softball lobbed to candidate”
But Obama also has said he was for tax cuts, EXCEPT for rich people. But he then said he wouldn’t raise taxes on the rich people if the economy was having trouble.
Further, Obama plans to SPEND all the money from his tax increase on the rich. So he’d drive up the deficits more than McCain.
Oh, and McCain has said he wants to find spending cuts to balance his tax cuts. He doesn’t get credit because he hasn’t specified the cuts.
It would be pretty cool to send all the money being spent on this election to the Treasury Dept. but the Congress would probably come up with something new to spend it on.
What the hell are they talking about. The Boom set to start in the stock market and taxing capitol gains?
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I can see the commercial now:
Reagan Apontee Endorses Obama
One of Greenspan’s most famous quotes sums up Obama:
“Irrational exuberance”
Then we're going after matching grants for Chicago educational projects. (Oh, sorry about that, Mr. Ayers. Dig It!)
Cheers!
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
If I recall, in 2000 while campaigning, McCain said he would do a “weekend at Bernie’s” on Alan Greenspan if he died because he was keeping the economy solvent.
McCain is slowly learning that there are some people “across the aisle” whom you just can’t trust. Like Greenspan, liberal Democrats, the Hispanic caucus, and that the ones you can trust, like your conservative base, shouldn’t be dissed.
Maybe it’s too late for McCain to learn some life lessons.
The father of the housing and credit bubbles is a reliable source for advice on economics?
Greenspan did NOT just see the housing bubble,
He single handedly created it by dropping Fed funds rate
to 1%. That rate was below inflation, causing massive speculation
in home prices followed by the bubble.
Yeah, Greenspan clearly left the foot on the gas pedal way too long.
Greenie also allowed the unregulated derivatives market to be created and grow into a monster on his watch.....Now we’ve got the chance of taking down the entire banking system if a big Wall Street House like Bear Stearns or Lehman would actually go under.
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