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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Johannes Pilch who wrote (488668)	11/6/2003 10:55:40 PM
From: RON BL	Read Replies (1) \| Respond to of 769670

Greenspan condemns what the Democrats want to do !!! "With today’s positive economic news, according to the Labor Department, Greenspan said “an improving U.S. economic tempo should soon generate a jobs revival, but warned mounting budget deficits pose a serious long-term threat.” .. "In these circumstances, monetary policy is able to be more patient," Greenspan said, adding a standard caution that "no central bank can ever afford to be less than vigilant about the prospects for inflation." Greenspan went on to discuss the threats deficits pose to our economy. "The ... relatively optimistic short-term outlook for the U.S. economy is playing out against a backdrop of growing longer-term concern in financial markets about our federal budget," Greenspan said, and recent budget talks between Republican and Democratic lawmakers were "not encouraging." With large deficits to remain, high-level of spending from our welfare state, Greenspan said the effect it will have on Social Security in the future is quite serious. Discussing the inability of politicians to get budgets back into balance before the large baby boomer population segment goes into retirement adding huge strains to the Social Security fund , Greenspan remarked, "Such a development could have notable, destabilizing effects on the economy."