Reid Calls Greenspan a "Political Hack!"

[Teaser]

I love it. On Inside Politics with Judy Woodhead.

I want people to come out and admit that Harry Reid is good. So many were griping about his appointment, but the truth is, he rocks.

[tanyev]

1. People are admitting it.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x3213308#3213406

[Teaser]

4. Sweet!

He so rocks.

[EVDebs]

22. Check out commondreams "Greenspan Shrugged" article if you

get a chance (just google it).

[cally]

2. Senator Reid, I love you..nt

[Sandpiper]

3. I don't care for his anti-choice stance

But at least he's not a shrinking violet like his predecessor.

[EVDebs]

5. Give 'em Hell Harry ! Next time tell "Maesto" to shove the baton up his

Republican orifice ! Loved seeing Judy Woodruff's "Deer in the headlights" routine when Harry hit her questions out of the park !

Now we get to see what NBC's Andrea Mitchell says. I'm dying to hear it. If you want the real scoup on all of this, just read "Perfectly Legal" by David Cay Johnston, chapters 7 and 8. Sen Dan Moynihan knew that Reagan's tax cuts in 1981 were skewed to the rich, and in order to pay for them they contrived this 1982-83 Greenspan Social Security scare. In the ensuing years Reagan's crew, calling them "revenue enhancements" raised taxes on the lower and middle classes in order to pay for those tax cuts ... see the same M.O. happening today ! Bush's $1.8 trillion tax cuts to the rich need to be paid for and they plan on a CARVE OUT of around $2 trillion from existing Social Security (essentially killing it) in order to set up the privatized account Trojan Horse.

Hold the line you congressional Dems ! Hold that line !

[Leilani]

6. Saw him

& thought he did a great job.

[DemocracyInaction]

7. Teaser---kiss, kiss, kiss. This is the best news I've had all day.

I've been going nutso in a post I put up a little bit ago about Greenspan and this fucking idiotic Consumption Tax (like 26 to 30% proposed by several republicans)AND that he also wants to do a combination with still an income tax AND he calls it something that will stimulate the economy. Pleeeeeeeease tell me Reid was refering to this shit because it means that the Dems are going to fight it. Or was he just refering to the Social Security comments. Please give me hope!!!!!!!

[Teaser]

21. referring to multiple Greenspan statements.

Social Security among them. I don't remember if the Consumption tax was too.

[gordianot]

8. I have much more respect for Harry Reid.

Remember when Obama was being touted as the future of the Democratic party? Then he voted for Rice. Being photogenic and delivering a good speech is not enough.

Experience counts, look at what Byrd stands for today. Conyers is our voice the house. Boxer is awesome. Shelia Jackson Lee has enormous promise.

I just hope Harry Reid stays out of private planes the next few years.

[BL611]

10. I wouldn't condemn Obama

Didn't Reid vote for Rice also? I think they've both done excellent so far, griping over whether someone spends political capital on a protest vote is kinda tedious

[gordianot]

29. Reid at least spends some capital.

Sometimes symbols are important. Guess Obama's capital was all spent on his vote with Gonzales. He had a rare chance to question Rice and blew it. Obama is still a wait and see candidate.

[cestpaspossible]

9. It's about time

Greenspan has gotten a pass for too long...

[Jon8503]

11. Correct, between the deficits and finding a way to now pay for the

rich tax cuts, they need money and need it bad. Hopefully, Reid can hold the dems in line.

Don't give an inch on this social security issue. No matter what they promise as we all know how they lie.

[LittleClarkie]

12. The sad thing is, I don't think Greenspan was always a hack

he seems to have become one under this administration.


Or has he indeed always been a hack. He always seemed nonpartisan to me before the Bushies got hold of him.

[BL611]

13. He was always a republican

He just couldn't do too much damage with Clinton in there and a strong economy. The Fed really acts as part of the checks & balances system, if you give it a chance to run free on ideology(despite it's supposed non partisan nature), watch out.....

[jpak]

16. I disagree

Greenspan jacked up interest rates during Clinton years to fight non-existent "inflation".

It was just a ploy to derail the Clinton Economy - and it worked.

Just as soon as the Chimp took office, he rolled back interest rates (to historic lows) - what a coincidence!!!!

He's as political as they come - and a hack.

[Still_Loves_John]

28. That's a pretty unfair attack

I mean, you can put inflation in quotes, but when you take high school econ you learn that you raise interest rates when the economy is good to prevent inflation, and lower interest rates when the economy is slower to prevent recession. He would be doing the right thing in raising interest rates during the Clinton boom, and lowering them during the Bush recession.

I'm not a big Alan Greenspan fan or anything, I just don't really see how any of that is bad.

[ochazuke]

19. and he was always overrated

recently, he has drifted to the right along with the rest of the establishment.

Remember he warned of the dangers of paying off our national debt too quickly. Oh no! We're gonna run out of treasuries to invest in.

What a joke.

[ozymandius]

14. It seems that he has always been a hack. Observe:

The Weasel Behind the Curtain at the Fed

Any Democrat who still offers praise for Alan Greenspan after his latest propaganda supporting the Bush attack on Social Security should be dumped by the party and voters alike.

Greenspan has always been a Republican agent at the Federal Reserve, even in the Clinton years, but his support for private Social Security funds, and his latest warning that cuts in benefits for retirees need to be considered are both scientifically unjustified and unsupported, and politically craven, especially coming from a man who himself is already collecting the maximum Social Security benefit and who stands to walk away with a $100,000/year federal pension on top of that when he finally retires as Reserve Board chairman.

-cut-

His pronouncements on the financial stability of the Social Security system are no more prescient or sound than his economic forecasting skills, which have been repeatedly found wanting.

It is probably worth remembering that when Greenspan left his private career as owner of a pension management firm, Townsend Greenspan, and went into government service, he left a company run into the ground because of his poor investment advice and market forecasting abilities. By the time he left, Townsend Greenspan had lost all its clients, who had all sought more capable advisers with better records.

http://www.counterpunch.org/lindorff03032005.html

[medeak]

15. O'Neils book

quoted him as always wanting to privatize Social Security (as did he)

[lancdem]

17. He's been getting a lot of kudos here lately

and he deserves them.

[Frances]

20. I think kudos means prais

ku·do ( P ) Pronunciation Key (kd, ky-)
n. pl. ku·dos (-dz)
Usage Problem. A praising remark; an accolade or compliment: “Children's book author Virginia Hamilton added another kudo to her prize-laden career” (Calvin Reid). See Usage Note at kudos.


But I think Greenspan is a political hack. So glad Reid spoke the truth.

What about a Schweitzer-Reid ticket? Or Reid-Schweitzer? I wish we would have an early primary in the West. I think the voters may be ready for someone other than an Easterner or a Southerner/Texan.

[gratuitous]

18. Greenspan models new Reid shoes

Finds they fit like a charm.

[WI_DEM]

23. I've been admitting it

I wasn't sure before hand, but he has really been on target.

[applegrove]

24. I could just tell Reid was good at the SOTUA. Good egg. n/t

[knight_of_the_star]

25. Damn good!

I knew he was good when he threatened to shut down the Senate if Cheney resorts to the "nuclear option."

[DearAbby]

26. Well well well, the Wealthfare for the rich, off the sweat and tears of

poor and middle class, Wonder what the freeps thinks of this shit? Is it worth it? All that money Wealthyfare for those that dont need it? Better get another job asshole, you're gonna need it.

Sometimes I wonder if the idea is to create mass discontent and get people protesting so they can just issue martial law and be done with it...seems to me each and every idea they come up with is worse then the one before.

[SixShooter]

27. Viva Reid!

I love this guy...I could care less about his views on social issues because of his personal faith...the guy knows how to stand up and fight! We NEED this!

GIVE EM HELL HARRY!!!!!!!!!!

[GOPBasher]

30. He does rock! I love him. nt