link from commenter Holden Caulfield at the eschaton:
Greenspan Says Soaring Budget Deficits Are Long-Term Threat
America's soaring federal budget deficits represent a major obstacle to the country's long-term economic stability, Federal Reserve Chairman Alan Greenspan warned on Thursday.
Greenspan told a banking conference that the federal budget deficit was a bigger worry to him than America's soaring trade deficit or the high level of household debt because those two problems can be corrected by market forces.
more ...
greenspan is a crock. he supported the tax cuts that created this deficit. he's lost all credibility. what can you expect from a former(?) ann rand devotee.
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