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Pastimes : CNBC -- critique.
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To: Lizzie Tudor who wrote (13965)1/23/2005 1:01:40 PM
From: Lizzie Tudor  Read Replies (1) of 17683
 
It will be interesting if CNBC esp Kudlow and Cramer cover this.

Deficits May Be Wearing Thin at the Fed

In private sessions, Mr. Greenspan may well be warning Mr. Bush in blunter terms. The Fed chairman meets regularly with Vice President Dick Cheney and periodically with Mr. Bush.

There is a rumor in Washington - thus far unconfirmed - that Mr. Greenspan warned the White House in mid-December that it would have to take more credible steps than it has so far to meet its goal of cutting the deficit in half by 2009.

If true, the unspoken but inescapable threat would be clear: if the Fed wasn't satisfied, Mr. Greenspan could signal his lack of confidence in Mr. Bush's fiscal plan. Investors would be shaken and Mr. Bush's credibility would be damaged.

What is certain is that the White House has started to signal tough cuts - trimming as much as $30 billion over six years at the Pentagon - and Mr. Bush has adjusted his rhetoric about the deficit.
nytimes.com

This is an interesting perspective but fairly common in the press (that Bush is a positive for the markets). Actually the markets suck worse than they have in 25 years, so I would bet that if the Bush spend-o-rama is finally SHUT DOWN, either by getting rid of the man (preferred) or by Greenie cutting off his checkbook, markets might actually rally. But not before then.
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