What’s Different About Today’s Government Deficit and Debt?
As of today, the U.S. government’s current deficit and debt are indeed currently at unprecedented levels for peacetime—once we account for them appropriately.
1 min read
This definitely falls into the "Give me a break" category
In case anyone didn't know, Greenspan now runs a hedge fund (can you spell R-E-V-O-L-V-I-N-G D-O-O-R?) I wonder it it's tanking like most of the other hedge funds these days....
Greenspan "shocked" at credit system breakdown
Thu Oct 23, 2008
Reuters
By Mark Felsenthal
WASHINGTON (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is "shocked" at the breakdown in U.S. credit markets and said he was "partially" wrong to resist regulation of some securities.
Despite concerns he had in 2005 that risks were being underestimated by investors, "this crisis, however, has turned out to be much broader than anything I could have imagined," Greenspan said in remarks prepared for delivery to the House of Representatives Committee on Oversight and Government Reform.
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