Political Quotes

“I rise today to support confirmation of Alan Greenspan's nomination to serve another term as Chairman of the Federal Reserve Board of Governors. Although I have not always been completely agreeable with his policies, I think that, generally, he has struck the proper balance in monetary policy in order to stabilize prices and encourage growth short-term growth. In fact, combined with the President's deficit reduction program, Chairman Greenspan's policies helped the Nation out of its last recession. When we consider this nomination, we must realize that the most relevant indicator of Chairman Greenspan's accomplishment is the success of the economy. Because of the number of factors and variables involved in economic theory, we can stand and debate individual arguments almost endlessly. However, we cannot ignore the fact that the economy has exploded, while inflation has stabilized at its lowest rate in more than a decade. In fact, the combined unemployment and inflation rate is lower than it has been since 1968. This did not occur without leadership, and Chairman Greenspan and President Clinton deserve our applause.”