Wednesday, February 16, 2005

Upbeat? I think not

Greenspan's long-awaited testimony before the Senate was ambiguous at best. My take: He sees that the US in the long run can't continue as it is, spending, not taxing, continuing both as a nation and as its citizens to borrow from the future.

He's right, but he's not being heeded, not by consumers, not by our president or congress. At the end of Bush's second term we're going to be in the same situation we were at the end of the last trickle-down president, Reagan, who left us a heritage of massive debt that we still haven't paid. off.

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