Oh-Oh..Greenspan Said He Made a Boo Boo"

[DemocracyInaction]

About dropped my teeth when read the 'ticker' at the bottom of Bloomberg News today. Says that Greenspan said he was mistaken about endorsing the tax cuts in 2001 because it was based on bad forecasts. Suuuure, Allen, sure....and it had nothing to do with your "political hack" status (as Reid called him) in furthering the agenda and the ELECTION of republicans. How many more 'boo-boos' have you made, you stupid and corrupt old bastard.

[chaumont58]

1. I thought he was going to say he made a mistake...

making his wife an honest woman.

[emulatorloo]

14. Nothing "honest" about that "objective" "reporter" Andrea Mitchell

one of the worst Bush promoters under the guise of reporting I've seen since Jeff Gannon.

[evil_orange_cat]

2. do you have a link for this story?

I'd love to post it on another forum. :)

[Maine-ah]

7. I don't know if this will help you or not

but I googled (news)it, and didn't get any msm results (why am I surprised) but here's the search link
http://news.google.com/news?q=greenspan%20tax%20cut%20mistake&hl=en&lr=&sa=N&tab=wn

[evil_orange_cat]

10. thanks, I got what I needed :D

n/t

[DemocracyInaction]

8. Evil Orange---it was on the bottom ticker of Bloomberg News

That's a cable financial news network that I get on my dish. I don't know if they have a website where some of this news is reported in more depth. Probably it wouldn't deal much with this type of story since the news they are 'in to' are all the Wall Street fact and figures but you could try.

[BlueJazz]

3. Isn't it simply amazing that the most Brain-Dead, Drunk DUer.....

...could have made better forecasts on the economy than all the supposed "Experts" ??

PS: Not that there ARE any Brain-Dead Drunk DUer's...Just an example.

[Jackpine Radical]

9. Hey, are you trying to imply there's something WRONG with

being a brain-dead drunk DUer? (duh, hic...)

[NC_Nurse]

4. Well they're about to EXTEND them

in this budget, Al. I guess you are just backpedaling so you won't be blamed when this all comes home to roost....how convenient.

[hfojvt]

5. funny that a guy with a mere MA in economics

such as myself, is on record in October of 2000 as saying the surplus was "imaginary". I say that he should be fired immediately and I should get his job as I am clearly more competent, based on this example and the warning I tried to write to him in May of 2000 telling him not to raise interest rates - which he did not heed, which action helped lead to the subsequent recession. He is not a hack - he is an a$$hole and/or an idiot.

[Inland]

6. Isn't the "nobody could have predicted" that Bush always uses?

Nobody could have predicted that terrorists would crash planes into buildings, nobody could have predicted that Iraq would be unstable after the invasion, and now, Greespan says that--what--nobody could have predicted that tax cuts would lead to less revenue?

And of course, there are dozens of people, big name people, people in the government, that predicted all those things. They were just ignored, silenced and then wished out of existence.

[hfojvt]

13. not only that

it is "we got bad information (or no information, like a PDB, for example) from the experts". When in fact, they were buying and/or bullying experts to tell them what they wanted to hear. We really needed Randy Travis to campaign with all Democrats and sing his hit single "I told you so" at all our rallies. Make that into a meme.

[Snotcicles]

11. S.C.O.B. I LOVE n/t

[charlie]

12. Huh. That's a turnaround from 5 days ago

when he tried a "who knew?" defense, but said he'd do it over again.

"It turns out that we were all wrong," Greenspan conceded at a Senate hearing.

"Just for the record, we were not all wrong, but many people were wrong," Clinton, D-N.Y., quickly shot back.

...

"If confronted with the same evidence we had back then, I would recommend exactly what I recommended then," he said.

http://www.forbes.com/business/feeds/ap/2005/03/15/ap1886154.html

Of course, his prescription for his Boo Boo is... Social Security overhaul! Natch.

[salin]

15. Agreed - I don't buy the "he says it was a mistake"

heck - bet he endorses bushes current round of tax cuts. He is a Randian nut who cares more about his ideology than he does about the actual health of the US economy.

[applegrove]

16. So do we retro-actively get those taxes back to help pay off some

of the War? Will all the text-books be changed to replace the adage of supply-side trickle down? What is being done about this?