September 16, 2007

Greenspan Criticizes Bush Administration, Republicans

Alan Greenspan has a memior coming out tomorrow called "The Age of Turbulence: Adventures in a New World". In it, Greenspan criticizes the fiscal policy of the Bush Administration, stating that the Republicans in both legislative and executive branches spent freely if they thought it might increase their political power. It's not too surprising then that so many industrial lobbyists were successful in dictating policy during this administration. Greenspan singles out both Dennis Hastert, who I didn't know until he started blogging after which I learned not to like his policies, and Tom DeLay as two people who encouraged this behavior. He also talks about Cheney's influence in making the phrase "deficits don't matter" a political motto.

What's interesting is that Greenspan paints former President Bill Clinton as an incredibly informed fiscal manager. Not only did Clinton take risks to ensure fiscal policy would have long-term positive results, but he did so by making sure he had all of the facts and information needed to make the correct decision. That approach is so opposite to the characteristics of Bush that it's no wonder things have become so bad for the American dollar and the majority of U.S. citizens.

If only Greenspan and his memoirs would be read by the majority of the public. It's unlikely for that to be the case though, when incendiary politics or scandal are the types of books that most people are interested in knowing about. I'm sure the book will sell well, but its audience is going to be the smaller minority of people who are educated enough to understand Greenspan's influence on history and the importance of his words.

Posted by josuah at September 16, 2007 7:53 PM UTC+00:00