Did Alan Greenspan hit the nail on the head?

Alan Greenspan, appointed as Chairman of the Federal Reserve by President Ronald Regan, and who oversaw the largest economic boom in our country's history during the 1990's says the country can't afford McCain's tax cuts. Is this more proof that McCain doesn't understand the economy, the number one issue on the minds of voters?





http://news.yahoo.com/s/ap/20080913/ap_o鈥?/a>


Did Alan Greenspan hit the nail on the head?
The repubs will probably say that Greenspan has ties to terrorists and is a closet Muslim





See?


alan greenspan is an illuminati. he wants to destroy the country





he was awful as fed chief





retarded Chairman





overrated illusionist





Here's Something: In 1987, President Ronald Reagan nominated Greenspan as Fed chairman, a post he's held ever since, through the administrations of George H.W. Bush, Bill Clinton, and George W. Bush.Did Alan Greenspan hit the nail on the head?
YES HE DID !


Alan Greenspan says the country can't afford tax cuts of the magnitude proposed by Republican presidential contender John McCain 鈥?at least not without a corresponding reduction in government spending.





';Unless we cut spending, no,'; the former Federal Reserve chairman said Friday when asked about McCain's proposed tax cuts, pegged in some estimates at $3.3 trillion.





';I'm not in favor of financing tax cuts with borrowed money,'; Greenspan said during an interview with Bloomberg Television. ';I always have tied tax cuts to spending.';





McCain has said that he would offset his proposed cuts 鈥?including reducing the corporate tax rate and eliminating the Alternative Minimum Tax that has plagued middle-class families 鈥?by ending congressional pork-barrel spending, unnecessary government programs and overhauling entitlement programs such as Medicare and Social Security.






Alan Greenspan admitted he was a major cause of the housing bubble. I personally think it could not have happened without him and so it is his FAULT!





He is demonstrably right on this one though. We already borrowed more than we cut. We would not be as near bankruptcy if that money had not been borrowed. Of course, the very wealthy that McCain* works for would not have been as rich as they are today but they still would have been in the top 1% of the country.





Republicans find one bill he championed that benefited You a middle-class Republican! Challenge! He doesn't care about your God, gays, anti-birth control, poisoning the environment, and guns everywhere agenda either...
The Wall Street Journal, an economic paper, supports McCain's policies and believes that Obama is copying states with deep economic problems. The majority of the blue states have debt. The majority of red states (and there are more red states) have budget surpluses. Alan Greenspan was basically laughed out of his job and never foresaw the housing bubble.
This of course from the same man who's monetary policy helped create the housing boom and bust, a weak dollar, and the current economic recession we are in now and will not admit to it.





Since GWB cut taxes, Federal Revenues have gone over $3 TRILLION, the largest ever. We don't have a revenue problem, we have a spending problem!
we just don't have anyone who understands this gd mess. too many crooks and rats to sort them out. they all have their excuses and blame the other guy.





that is why i am beginning to like the idea of bob barr, he is the real pit bull and would rip them all a new one. wish barr and gingritch would team up as the ultimate reformers and clean them out.





unless something profound is done about the corrupt government and leaders in congress, none of the other issues will make any difference. unless that bunch of crooks and lamebrains are cleaned up the war, economy and everything else will be business as usual. down, down, down we go.
That's true in and of itself. But we can afford Obama's plans even less.





The non-partisan US Budget watch estimated that by 2013 the deficit increase under Obama to be 20-110 billion more than McCain. I'd say neither is a true fiscal conservative.
Yes. You know, Republicans cannot have it both ways. For many years now, Wall Street has hung on every syllable uttered from the mouth of Alan Greenspan.





He was a GOD in the financial realm. He was respected and his words were straight from the economic bible.





So..... if there is ONE CELL of honesty in their entire bodies, they must heed his advice and wisdom now.

















P.S. Greenspan foretold of the inevitable housing crash and credit crash WAY before it happened. LOOK IT UP.
He's right. The system under Reagan %26amp; Bush's.....of borrowing Trillions from the Chinese is coming to an end.





We can't run these deficits anymore.





Not to mention....look at the link below.....Obama's plan MAKES MORE SENSE. More get tax cuts, and we actually can pay the bills with it. It's responsible government. Something we haven't had since Clinton balanced the budget.
Wait a minute.


According to the dems the war in Iraq is the most important issue.


Oh yeah, that was when they thought we'd lose.


That was then- this is now.


If Greenspan is right it will be the first time in a long time that he is.


His NO INTEREST policies at the Fed are directly responsible for the current housing and credit crises.



No.





You might want to point out how Obamas tax cut affects those in higher tax brackets. Essentially they get taxed 100%. Look it up. Does that show Obama doesn't understand the economy either?





It's the pot calling the kettle black here.
First the retarded Chairman stated that a tax cut has to go with reduced spending. Which is the idea McCain has.


Second the retarded Chairman should really shut up and water the daisies. He was incompetent and an overrated illusionist.
He said ';can't afford without reducing government spending'; and McCain/Palin will reduce government spending!





Greenspan is a Republican and he will vote for McCain. He said that on an interview.
Yes---exactly





And posters like solaran...are living proof that the mcsame lies work on the weak and ignorant
Evidence, Schmevidence, I say
This country can't afford Obama either. He wants to increase our taxes AND increase government spending to match.
alan greenspan is an illuminati. he wants to destroy the country.
...On his head, and that's why he was awful as fed chief, I think you may be on to something.
I wonder what he has to say about the Bush tax cuts? Because even Obama agrees those work better than his plan.
Yes - right on the head!






Yes.
You got that right
ah duh.
No...he just proofs that our government is getting too big and we need to trim it back. If we add Obama's plans to the list, we will never be able to cut tax.
Talk about the BIG twist, this is it. it's a common tactic of Obamabots to LEAVE out sentences, even paragraphs.


Greenspan said it would NOt work UNLESS there were equally deep cuts in the Federal Spending. Unless you missed it, McCain TOTALLY supports Line Veto by the President for this VERY reason.


If Bush had it, he could have vetoed Obamas 18 MILLION dollar pet project in the Fed 2009 Budget, for the Shed Aquarium in Chicago, who already had a SURPLUS budget of 10 million.


McCain is THE man who can and WILL cut ALL these billions of special interest money..............hence he's in Charge of that Committee NOW.
I have three jobs...I'm a healthcare consultant, a writer and an actor. Nowhere in there do you see the skills required to suggest that I have any experience in, or knowledge of...economics.





I can say, however, that you don't really need to be Greenspan or Bernanke to make the following assessment:





If you are debt to the tune of 9.6 trillion, you're on the edge of recession, your trading partners are looking at you with suspicion, your federal infrasctructure is crumbling, you're spending much more money than you owe, you're bailing out finance houses, your corporate checks and balances are shaky at best and you're STILL planning on throwing money at everyone...you are making a TERRIBLE mistake.