Alan Greenspan on Republican wasteful practices

via the Washington Post;

Greenspan accuses the Republicans who presided over the party's majority in the House until last year of being too eager to tolerate excessive federal spending in exchange for political opportunity.

snip

The large, anticipated federal budget surpluses that were the basis for Bush's initial $1.35 trillion tax cut "were gone six to nine months after George W. Bush took office."

Powerful words from the top Republican economist for decades, revered by many in both parties. Surely the criticisms he levels at the gluttony of the Republicans like Fossella when they were in power resonates more, when Fossella himself praises the man for his knowledge and demeanor. Vito Fossella on Alan Greenspan;

He is among the most respected economic strategists of our time and has the vision and foresight to lead America into the 21st century. His voice is respected in all corners of the globe and his judicious approach to managing economic matters has eased worries on Wall Street and in international markets.