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Politics : Formerly About Advanced Micro Devices
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To: longnshort who wrote (350905)9/17/2007 11:02:58 PM
From: bentway   of 1577179
 
"He calls Clinton a "risk taker" who had shown a "preference for dealing in facts," and presents Clinton and himself almost as soul mates. "Here was a fellow information hound. ... We both read books and were curious and thoughtful about the world."

During Clinton's first weeks as president, Greenspan went to the Oval Office and explained the danger of not confronting the federal deficit. Unless deficits were cut, there could be "a financial crisis," Greenspan told Clinton.

"The hard truth was that Reagan had borrowed from Clinton, and Clinton was having to pay it back. I was impressed that he did not seem to be trying to fudge reality to the extent politicians ordinarily do."

Dealing with a budget surplus in his second term, Clinton proposed devoting the extra money to "save Social Security first."

"I played no role in finding the answer," Greenspan writes, "but I had to admire the one Clinton and his policymakers came up with."

Greenspan interviewed Clinton for the book and clearly admires him. "President Clinton's old-fashioned attitude toward debt might have had a more lasting effect on the nation's priorities. Instead, his influence was diluted by the uproar about Monica Lewinsky."

Known for his restrained, if not incomprehensible, public statements over the past several decades, Greenspan's criticism of Bush and his economic policies comes as the economy is emerging as an issue in the 2008 presidential race."
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