Posted by Orin Kerr:
Alan Greenspan on the Bush Administration:
http://volokh.com/archives/archive_2007_09_09-2007_09_15.shtml#1189829708
Here's an [1]interesting preview of Alan Greenspan's memoirs:
Alan Greenspan, who was chairman of the Federal Reserve for
nearly two decades, in a long-awaited memoir, is harshly critical
of President Bush, Vice President Dick Cheney and the
Republican-controlled Congress, as abandoning their party�s
principles on spending and deficits.
In the 500-page book, "The Age of Turbulence: Adventures in a New
World," Mr. Greenspan describes the Bush administration as so
captive to its own political operation that it paid little
attention to fiscal discipline, and he described Mr. Bush�s first
two Treasury secretaries, Paul H. O�Neill and John W. Snow, as
essentially powerless.
Mr. Bush, he writes, was never willing to contain spending or
veto bills that drove the country into deeper and deeper deficits,
as Congress abandoned rules that required that the cost of tax cuts
be offset by savings elsewhere. "The Republicans in Congress lost
their way," writes Mr. Greenspan, a self-described "libertarian
Republican."
. . . .
Of the presidents he worked with, Mr. Greenspan reserves his
highest praise for Bill Clinton, whom he described in his book as a
sponge for economic data who maintained "a consistent, disciplined
focus on long-term economic growth."
References
1. http://www.nytimes.com/2007/09/15/business/15greenspan.html
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