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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (395843)4/21/2003 4:25:07 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
That is why Greenspan's reappointment - and his age - is such a critical factor.

Nearly every President clashes with his Fed chief at some point... because the Fed's goal is low inflation and stable growth, while Presidents are inclined to 'goose-up' growth in the short-run (to achieve re-election), by running deficits (borrowing from the future).

Currently, some 15 cents out of every dollar Bush spends is borrowed. That percentage is set to rise rapidly... eventually clashing with the Fed's goals.
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