the former Fed Chairman, Alan Greenspan, has recently released his memoir for the years of his time in public service. And it comes as a surprise to many that President Bush and the Republicans in Congress do not fair particularly well. Reuters said the Fed chairman, Mr. Greenspan, in his book, ``sharply criticizes the President, President Bush's administration and Republican congressional leaders for putting political imperatives ahead of sound economic policies.'' The New York Times said of Mr. Greenspan's book: ``The Bush administration was so captive to its own political operation that it paid little attention to fiscal discipline.'' And the irony here is that when President Bush took office and the Republicans had control of the House and the Senate, they were left with $5 trillion in surplus. And in a short period of time, they've added $3 trillion to the Nation's debt; $3 trillion, the fastest accumulation of debt and greatest amount of debt in the shortest period of time in American history.
Editor's note · Context
Discussing Alan Greenspan's memoir and its criticism of President Bush and Republican leaders.
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