More on Money

Today Alan Greenspan, who has always looked to me like the Republicans' lackey on fiscal matters, weighs in on the impending dangers of growing deficits and trade imbalances. He says that, at present tax rates, and with no sign of anyone's even remote interest in addressing budget deficits or balancing trade numbers, we are headed for finacial disaster. This, along with continued spiking of oil prices and some disappointing earnings, took some of the bloom off yesterday's seemingly rosy spike in the financial markets.

Who likes paying taxes? Who doesn't hope so-called "market forces" will work all this out?

Reality trumps ideology and wishful thinking. Alan Greenspan must be beginning to worry that his cheerleading of administration efforts to enact the ideology of the right wing as national policy may cast him as one of the co-conspirators when history records how the burgeoning American economy was squandered.

Is it too early to suggest that we need a Democrat back in the White House and in a majority in Congress before this free market crowd spends and trades us into a third world country?