Greenspan Warns of Risks From U.S. Debt

[Frank Booth]

WASHINGTON—Former Fed Chairman Alan Greenspan said the U.S. could face a bond-market crisis if politicians don't act soon to start cutting the nation's debt.

In an interview Friday with The Wall Street Journal, Mr. Greenspan said that eventually Congress would pass a budget that includes many proposals by a White House debt-reduction panel.

"I think that the type of budget agreement that was put together by Alan Simpson and Erskine Bowles is the type of budget that will be passed by Congress," Mr. Greenspan said. "The only question is, will it be before or after the bond-market crisis."

Read more: http://online.wsj.com/article/SB10001424052748704739504576067832461529192.html?mod=igoogle_wsj_gadgv1&

I'd make a comment about irony, but it's obviously unnecessary.

[phasma ex machina]

1. Prediction: the politicians do absolutely nothing and keep kicking the can down the road. nt

[walldude]

2. There should be some rule about

if you were part of the fucking problem to begin with you should shut up about the proper solutions.

[Rabrrrrrr]

6. and certainly should shut up about it being "bad policy".

I mean, seriously, WTF?!

See my other posts in this thread for further elucidation on this.

[Rabrrrrrr]

3. In other news, Shrubbie warns of risks of waging war in Iraq

[Frank Booth]

4. Ha!

[Rabrrrrrr]

5. And Dick Fuld warns that mortgage backed securities and ARMs might be bad for economy

[GeorgeGist]

7. It's up to the Christians.

Thank God the USA is in their hands.

[L0oniX]

8. ...and Alan Greenspan's word is worth something now? Hey you asshole ...you knew !

[postalanthrax]

9. This from the man who said the Clinton surplus was a bad thing for the govt.

Go away Mr. Andrea Mitchell. Just go away....

[dixiegrrrrl]

10. He's like the serial killer who gets religion 20 minutes after being incarcerated.

Except, unfortunately, he is NOT incarcerated for his part in this economic disaster.

[neverforget]

11. We need a Bush War Tax on the wealthy