Neil Cavuto of Faux News just got off the air doing a 15 minute piece trying to blame Alan Greenspan for Bush's failed economic policies. Cavuto was claiming that Bush's jobless recovery was all Greenspan's fault as was the current flirtations with stagflation. Cavuto even went so far as to claim that the late 90's dot com bubble was all Greenspan's fault and called on Greenspan to resign! I seem to recall Greenspan talking about irrational exuberance as early as 1996 and saying that an unsustainable bubble had formed in the tech sector which would eventually pop. I also recall Greenspan vigorously saying that tax cuts are good but only if the budget was balanced and that the US needed to become more energy efficient or face rising energy prices. Did Bush follow any of Greenspan's objective advice?
Not one bit of it! Bush ran up the biggest deficits in the history of any country on the planet (despite repeated warnings by Greenspan that this would cause the dollar to collapse and that it was just about the worst economic policy we could have), Bush didn't push for higher CAFE or energy efficiency requirements when Greenspan warned that not taking action would lead to higher gas prices, and lastly bush ignored Greenspan's warnings that the trade deficit was unsustainable. Bush took no action on any of these and that is the reason for the massive deficits and the current inflation in the energy sector.
This is just so typical of the overly politicized and nonfactually based "reporting" done by Faux News. When things don't work out and the **** hits the fan, just like every intelligent expert said it would, then Faux News, Bush, & Co try to find someone else to blame everything on. The drooling idiots who believe this crap deserve what they get.
Not one bit of it! Bush ran up the biggest deficits in the history of any country on the planet (despite repeated warnings by Greenspan that this would cause the dollar to collapse and that it was just about the worst economic policy we could have), Bush didn't push for higher CAFE or energy efficiency requirements when Greenspan warned that not taking action would lead to higher gas prices, and lastly bush ignored Greenspan's warnings that the trade deficit was unsustainable. Bush took no action on any of these and that is the reason for the massive deficits and the current inflation in the energy sector.
This is just so typical of the overly politicized and nonfactually based "reporting" done by Faux News. When things don't work out and the **** hits the fan, just like every intelligent expert said it would, then Faux News, Bush, & Co try to find someone else to blame everything on. The drooling idiots who believe this crap deserve what they get.
Comment