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Obama campaign seizes on Greenspan's tax comments
Reuters ^ | Sat Sep 13, 2008 | By Caren Bohan

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 ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: economicpolicy; greenspan; mccainpalin; obamabiden; taxes
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1 posted on 09/13/2008 7:25:32 PM PDT by boroman
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To: boroman

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.


2 posted on 09/13/2008 7:27:04 PM PDT by whitedog57
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To: boroman

I thought Obama claims he is for the biggest tax cut. What an idiot. McCain IS going to cut spending, Obama isn’t.


3 posted on 09/13/2008 7:27:47 PM PDT by Norman Bates (Freepmail me to be part of the McCain List!)
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To: boroman

Greenspan was advocating the reduction of the Federal Government - sure glad Barry jumped on that!


4 posted on 09/13/2008 7:28:04 PM PDT by DaveyB (Either we will be ruled by God or by-god we will be ruled - Ben Franklin)
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To: boroman
So Barry wants to go on record as favoring a tax increase? I love this! This guy just doesn't know when to leave well enough alone. (laughing)

"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

5 posted on 09/13/2008 7:28:46 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: boroman

Greenspan was part of the Bush years. We want change.


6 posted on 09/13/2008 7:29:15 PM PDT by ari-freedom (We never hide from history. We make history!)
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To: boroman

“Obama campaign, manages to get on base with under-handed softball lobbed to candidate”


7 posted on 09/13/2008 7:29:43 PM PDT by mabelkitty (Obama thanks McCain for not questioning his Muslim faith)
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To: boroman

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.


8 posted on 09/13/2008 7:30:40 PM PDT by CharlesWayneCT
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To: boroman

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.


9 posted on 09/13/2008 7:30:42 PM PDT by FlingWingFlyer ("Whites lift McCain to slim lead over Obama in poll" - Ass. Press ---09-12-08)
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To: boroman

What the hell are they talking about. The Boom set to start in the stock market and taxing capitol gains?


10 posted on 09/13/2008 7:31:14 PM PDT by eyedigress
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To: mabelkitty
All bases loaded, misses and fouls and no grand slam. If he does run for home, odds look good on being taken out. That's Barry the candidate!

"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

11 posted on 09/13/2008 7:32:02 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: whitedog57

I can see the commercial now:
Reagan Apontee Endorses Obama


12 posted on 09/13/2008 7:32:36 PM PDT by trumandogz
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To: boroman

One of Greenspan’s most famous quotes sums up Obama:

“Irrational exuberance”


13 posted on 09/13/2008 7:33:56 PM PDT by palomonte (see the light or feel the heat)
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To: boroman
That's right, Barry. We're going to pay for it by cutting funding for community organizers.

Then we're going after matching grants for Chicago educational projects. (Oh, sorry about that, Mr. Ayers. Dig It!)

Cheers!

14 posted on 09/13/2008 7:34:29 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: boroman
Greenspan told Bloomberg News he was "not in favor of financing tax cuts with borrowed money"

And so is not John McCain. McCain is in favor of cutting wasteful spending, so taxes may be cut, too.
15 posted on 09/13/2008 7:35:15 PM PDT by alecqss
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To: palomonte
Like we don't pay enough in taxes! As Rush said, how is he going to get tough on taxes - or anything else for that matter?

"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

16 posted on 09/13/2008 7:35:24 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: boroman

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.


17 posted on 09/13/2008 7:36:09 PM PDT by oldbill
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To: boroman

The father of the housing and credit bubbles is a reliable source for advice on economics?


18 posted on 09/13/2008 7:38:13 PM PDT by oblomov
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To: whitedog57

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.


19 posted on 09/13/2008 7:39:26 PM PDT by ajay_kumar (Tax cuts my A** Obama, you had 94 opprtunities and you were against every one in senate!)
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To: oblomov

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.


20 posted on 09/13/2008 7:42:07 PM PDT by SteveAustin
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