Monday, September 17, 2007

Speaking of...

Greenspan, Krugman, an economist of no small repute (sorry Freepers but it is true) has this example of the former's now decrying the Bush Tax Cuts when he is no longer in position to do anything about them...

If anyone had doubts about Mr. Greenspan’s determination not to inconvenience the Bush administration, those doubts were resolved two years later, when the administration proposed another round of tax cuts, even though the budget was now deep in deficit. And guess what? The former high priest of fiscal responsibility did not object.

And in 2004 he expressed support for making the Bush tax cuts permanent — remember, these are the tax cuts he now says he didn’t endorse — and argued that the budget should be balanced with cuts in entitlement spending, including Social Security benefits, instead. Of course, back in 2001 he specifically assured Congress that cutting taxes would not threaten Social Security.

In retrospect, Mr. Greenspan’s moral collapse in 2001 was a portent. It foreshadowed the way many people in the foreign policy community would put their critical faculties on hold and support the invasion of Iraq, despite ample evidence that it was a really bad idea.

And like enthusiastic war supporters who have started describing themselves as war critics now that the Iraq venture has gone wrong, Mr. Greenspan has started portraying himself as a critic of administration fiscal irresponsibility now that President Bush has become deeply unpopular and Democrats control Congress.


The whole fucking establishment in this country lost it's ability to critically reason after 9/11, Greenspan too. Those that didn't are still outside the Beltway looking in.

Nobody loves the turd in the punchbowl of "kickin' ass" but the continuing mindlessness of the Fred Hiatt's of the world is the true "BETRAY-US" in this country.

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