Greenspan writes;
> Federal debt to the public rose to 59% of GDP by mid-June 2010 from 38% in
> September 2008.<
if this fellow had studied macroeconomics at all, he'd try to separate
out the part of this rise which is due to the fall of the denominator
(i.e., GDP). But then he goes on to rail against the "inability to
stem new spending initiatives" as if only the numerator matters.
--
Jim Devine
"Those who take the most from the table
Teach contentment.
Those for whom the taxes are destined
Demand sacrifice.
Those who eat their fill speak to the hungry
of wonderful times to come.
Those who lead the country into the abyss
Call ruling too difficult
For ordinary folk." – Bertolt Brecht.
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