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Impeach George Bush
Alan Greenspan Speaks
Greenspan announced today that extended government defecit spending could lead to higher interest rates. Is his announcement a threat or promise?
Source: TheTip, 2002-09-13
Candidate: The FED
Alan Greenspan, the Chairman of the Federal Reserve Bank has long been an enemy of inflation, but defecit spending is a new enemy. The defecit of the US is the primary source of income for the Federal Reserve Bank, so why the long-time low-interest rates? It's called the bait and switch.Under Clinton, the Defecit was dramatically reduced until he left office, when there was actually talk of budget surplusses. But this doesn't make for a profitable banking system. So eagerly and triumphantly, the Republicans have driven the deficit back into the trillions, and since the interest rate is low, who cares, right?But the interest rate is variable - Greenspan can change the amount of interest paid on the national and overnight banking debts at will, no matter what the political and social consequences. And he will. His first announcement since the current recession proves it, and who will pay? The American People."History suggests that an abandonment of fiscal discipline will eventually push up interest rates, crowd out capital spending, lower productivity growth and force harder choices upon us in the future," said Greenspan before the House of Representatives Budget Committee.
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User Originated Comments:
From: Michelle
2004-05-14 16:01:10
i would just like to encourage alan greenspan not
to raise the interest rates. the economy has not
recovered near as much as the government would
like to think. check with middle cl-ss america for
once and people who make under $40,000 a year.
From: truth9999
2004-03-01 11:10:49
let's get some facts straight. national debt
increased $1.6 trillion in clinton years
increasing 28% under his watch. also, we were in a
peak economic cycle - tax revenues were higher. by
the way he had nothing to do with the economic
expansion, just like the current pres has nothing
to do with the contraction that started when his
office began.
From: Sherry Hayse
2004-02-26 00:00:00
i am so outraged - i have worked for over 34
years, and am one of those unfortunate people who
have worked for a company with no retirement plan
and little benefits. i will depend on my social
security that i have paid in all of these years.
you and all of the rich republican that have
benefitted nicely from the bush administration
will not have to depend on social security because
the people who work the menial jobs in this
country are the ones keep this country goin and
you rich people keep getting richer from our
sweat. the republican party has literally raped
this country since bush has taken office. the
social security box was closed until bush decided
to open it and spend our hard earned money. this
country made a big mistake putting him in office,
for only the rich benefitted from it and they are
turning the united states into a 3rd world country
quickly.
From: Linda
1999-11-30 00:00:00
so, jerry, what you're saying is that the
democrats use government to help the poorest among
us, to employ them or support them if they are
unemployable, to educate them in order to make
them employable and self-sustaining.
while
the republicans use government to help the richest
among us. to give them money so they will employ
americans. discovering the costs of employing
americans, they export the jobs (and our money
with it) to distant lands where they employ people
at slave wages, then re-import the goods to sell
at record breaking profits (that are taxed at
record breaking lower rates) to americans employed
at ever-decreasing wages.
what you are
saying is that democrats redistribute wealth
downward, while republicans redistribute wealth
upward. thank you for your clarification.
From: Jerry
1999-11-30 00:00:00
you need to study economics to learn that you
don't know what you are talking about.
the democrats typically spend more on
federal programs thus wasting more tax dollars
than the republicans. that is how the democrats
get elected.
for example they promise
federal programs to get votes. look at how they
make promises to the black and hispanic
population.
the republicans typically
help business and this increases everything from
much tax dollars to increase employment. so they
are much better for the us.
jerry
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