Alan Greenspan Blames Republicans for Our Financial Problem

[KissMy]

On Bloomberg TV Just Now Former Federal Reserve Chairman Alan Greenspan Blames All The Past Republican Administrations & Congress for Our Countries Financial Problems!

Their drown it in the bathtub starve the beast tax cut unfunded mandates have destroyed this country. Had we properly cut spending & taxed to fund them all along everything would be fine. Instead Republicans exploded entitlement spending. Now the trust fund has been raided & it will cost a hell of a lot more to repay it with the interest it should have accrued all along now. We should have loaned money with a repayment plan to grow the economy instead of lending by redistributing it to the rich through the tax code to grow it. Now the rich will hide it instead of paying it back + interest with higher taxes. The country has been looted.

PS: Also my OP is not a quote, it is my interpration of his fancy words. I will have to wait for a clip to replay to get his words.

 

[jillian]

Yes

 

[zeke]

Ouch. Thats gotta hurt.

But then, some of the noted, professional economist's on here will come along and say how ole Alan don't know wtf he is talking about.

Funny.

 

[usmcstinger]

I was Greenspan's failure to take action to prevent the .com bubble from growing out of control and bursting. He saw it and called it Irrational Exuberance and did nothing to prevent it.

 

[TNHarley]

LOL I think its funny how demis back up all the lazy good for nothings, criminals etc but absolutely hate Republicans! Blame everything on them! Democrats are fckn perfect! HAHA losers

 

[TNHarley]

Democrats pushed Fannie Mae! Oh yea that was Bushs fault even though he was AGAINST it

 

[zeke]

See. The noted, published (right here) whacko economist TN Harley has arrived to blame it all on Dems.
wtf is Alan Greenspan anyway? (That wtf is "who" not "what".

 

[Wry Catcher]

On Bloomberg TV Just Now Former Federal Reserve Chairman Alan Greenspan Blames All The Past Republican Administrations & Congress for Our Countries Financial Problems!

Their drown it in the bathtub starve the beast unfunded mandates have destroyed this country. Had we properly cut spending & taxed to fund them all along everything would be fine. Now the trust fund has been raided & it will cost a hell of a lot more to repay it with the interest it should have accrued all along now. We should have loaned money with a repayment plan to grow the economy instead of lending by redistributing it to the rich through the tax code to grow it. Now the rich will hide it instead of paying it back with higher taxes. The country has been looted.

Spot on!

 

[007]

Greenspan is part of the reason this country is financially fucked, so of course he's going to blame whoever is convenient to shift blame away from himself.

Just another lying POS trying to cover for his own failures.

 

[CrusaderFrank]

Drown it in the tub unfunded mandates is just another way of saying I'm schizophrenic

 

[KissMy]

LOL I think its funny how demis back up all the lazy good for nothings, criminals etc but absolutely hate Republicans! Blame everything on them! Democrats are fckn perfect! HAHA losers

Greenspan is not now & has never been a Democrat. As far as I know he was a Libertarian.

 

[Toro]

"Starve the beast" has been an intellectual and empirical disaster.

But Democrats also voted for tax cuts so they don't get a pass.

Of course, Medicare is going to eat us alive, and I don't see much action from the Dems on this other than to gloat that they extended it by 8 years ( ) and bludgeon Republicans at every turn when they even whispered reform.

 

[Mac1958]

.

Absolutely stunning that Greenspan is even showing his face after his role in this.

.

 

[Toro]

LOL I think its funny how demis back up all the lazy good for nothings, criminals etc but absolutely hate Republicans! Blame everything on them! Democrats are fckn perfect! HAHA losers

Greenspan is not now & has never been a Democrat. As far as I know he was a Libertarian.

And a Republican.

Guess he's a RINO now. lol

 

[Katzndogz]

It's high time democrats got off their asses and did something about it.

 

[zeke]

"Starve the beast" has been an intellectual and empirical disaster.

But Democrats also voted for tax cuts so they don't get a pass.

Of course, Medicare is going to eat us alive, and I don't see much action from the Dems on this other than to gloat that they extended it by 8 years ( ) and bludgeon Republicans at every turn when they even whispered reform.

Let me ask you toro, what do you want to do about medicare? Most of the huge spending amounts come at the end of life. Should heroic measures be eliminated as a means of cutting medicare costs.

I watched my MIL die of diabetes complications. Huge amounts of money were spent on her at the end of her life. Still died. Why do we do that? Look at the charts. End of life care is extremely expensive. What would you want to do to reduce those expenses?

 

[KissMy]

"starve the beast" has been an intellectual and empirical disaster.

But democrats also voted for tax cuts so they don't get a pass.

Of course, medicare is going to eat us alive, and i don't see much action from the dems on this other than to gloat that they extended it by 8 years ( ) and bludgeon republicans at every turn when they even whispered reform.

Right On! On the reform stuff.

 

[zeke]

And on the Bush tax cuts. You sure they were not approved on a party line vote. I remember Dick Cheney casting the tie breaker vote in the middle of the night. Which cut was that. How many Dems voted for the Bush cuts?
Both #1 and #2.

 

[Toro]

"Starve the beast" has been an intellectual and empirical disaster.

But Democrats also voted for tax cuts so they don't get a pass.

Of course, Medicare is going to eat us alive, and I don't see much action from the Dems on this other than to gloat that they extended it by 8 years ( ) and bludgeon Republicans at every turn when they even whispered reform.

Let me ask you toro, what do you want to do about medicare? Most of the huge spending amounts come at the end of life. Should heroic measures be eliminated as a means of cutting medicare costs.

I watched my MIL die of diabetes complications. Huge amounts of money were spent on her at the end of her life. Still died. Why do we do that? Look at the charts. End of life care is extremely expensive. What would you want to do to reduce those expenses?

That is an excellent and complicated question. I don't have an answer. But I do know that medical spending is going to eat up a larger part of income, that the people who receive Medicare do not pay for it sufficiently through their lifetime, and we are going to have serious issues in 10-20 years if we don't find a solution.

 

[Toro]

And on the Bush tax cuts. You sure they were not approved on a party line vote. I remember Dick Cheney casting the tie breaker vote in the middle of the night. Which cut was that. How many Dems voted for the Bush cuts?
Both #1 and #2.

Democrats voted for the Reagan tax cuts and the extension of the Bush tax cuts as well as tax cuts in the stimulus.