Jakub
10-03-2007, 08:43 PM
Good book by Greenspan, surprisingly readable for the most part except for a couple of chapters where the language becomes very murky for someone with as little economic background as I.
His disappointment with Bush is quite evident though he seems to hold back a lot. The chapter prior to Bush, he's discussing the travesty of a $150B budget deficit and how it looked like the debt could have been paid off in a few years (and the complications that would make!) if things had gone on as under Clinton. Then he talks about Bush's tax cuts and unwillingness to veto anything, yet he doesn't rail about $500B budget deficits as you might expect... I like how positive yet grounded his outlook is, it's a view point worth admiring. The book answers quite a few questions about income disparity and how wages have not been rising despite the boom.
His disappointment with Bush is quite evident though he seems to hold back a lot. The chapter prior to Bush, he's discussing the travesty of a $150B budget deficit and how it looked like the debt could have been paid off in a few years (and the complications that would make!) if things had gone on as under Clinton. Then he talks about Bush's tax cuts and unwillingness to veto anything, yet he doesn't rail about $500B budget deficits as you might expect... I like how positive yet grounded his outlook is, it's a view point worth admiring. The book answers quite a few questions about income disparity and how wages have not been rising despite the boom.