Greenspan say's Bush tax cuts should expire

[Ahso!]

I put this in bizarre news stories because, well, anytime a neocon talks sense - it IS bizarre.

FT.com / US / Economy & Fed - Greenspan backs end to Bush tax cuts

“The problem is, unless we start to come to grips with this long-term [budget] outlook, we are going to have major problems. I think we misunderstand the momentum of this deficit going forward.”

[LarsMac]

I can't say I ever thought of Greenspan as a "Neocon"

He makes sense a lot.

[Ahso!]

I see Alan Greenspan as a financial neocon. His philosophy of little or no regulation on the financial industry is a large part of the reason we are where we are as I understand it.

Any comment on the thread title?

[LarsMac]

Sadly, I agree with him.

We have to start digging our way out from the hole the Bush administrated dug for us.

Besides, they will expire, and Congress has to do something extraordinary to extend them.

I don't foresee that happening, anyway.

[Clodhopper]

“The problem is, unless we start to come to grips with this long-term [budget] outlook, we are going to have major problems. I think we misunderstand the momentum of this deficit going forward.”


I wouldn't know where to place Greenspan on the political scale. But I think he's right on this one. As well as being largely to blame for it.

Over here, the Liberal Democrats have a share in power for the first time in about 100 years. Just at the time we are realising we have to deal with our budget deficit. I suppose I should have guessed that the only time we'd get a share of power is when the country is right in the financial doggy do, and we'll take a good share of the blame for the necessary but horrific budget cuts that are going to come through.

[Ahso!]

Do you think it may threaten your health care system?

[Clodhopper]

I think it will change it, and certainly in the short term taking money out of the NHS will threaten it in many senses. But it is becoming clear (imo) that we simply cannot afford it as it stands at present. If done well, it is even possible that the NHS will be set up for the next hundred years or so in a form we can afford, and that provides basic healthcare for all British citizens. But the change will be difficult and painful.

[Ahso!]

What changes do you foresee? Increases of out of pocket expenses for patients?

[Ahso!]

I notice no Bush defenders are posting here. I guess they're waiting for fox and limbaugh to explain to them and the republican party how to respond.