Alan Greenspan Speaks Out

Alan Greenspan has a new book out this week. Since he was chairman of the Federal Reserve for so many years and under so many different U.S. Presidents, this is getting a lot of attention. Though Greenspan himself is a Republican, he is reported to be saying that the Republicans deserve to lose this next election.

Chief among the reasons Greenspan says the Republicans deserve to lose is the amazing runaway deficit spending of the Bush administrations. That doesn't necessarily mean Greenspan will vote for Democrats in the next election. It only means he believes the Republicans deserve to lose.

Back in the days when I became a Republican, Republicans stood for fiscal responsibility. They also stood for individual liberty and some other things they seem to have forgotten about. It is safe to say I did not leave the Republican Party so much as the Republicans left me. But, that was a few years ago.

At his advanced age, I doubt Greenspan will leave the Republican party. But, it isn't stopping him from speaking out. We'll see how many people still listen.

That's my two cents.

Wade Houston
September 16, 2007


I have a late addition and possible correction. It seems the reporter upon whom I relied for some of the information may have gotten the story not quite right. Alan Greenspan commented upon the 2006 election and perhaps not the upcoming 2008 election. Here is the quote as reported by Fortune Magazine:

Where I had difficulties were on the fiscal side. We had a situation where the Republican Party had the presidency and both houses of Congress and the surplus. And I said, "Nirvana." We dissipated it. In the election of 2006 the Republicans deserved to lose, and the reason is that they had originally come to office with major policy initiatives, and they went out of office solely seeking power, and in the end they achieved neither. And I find that very saddening.

September 17, 2007