Federal Reserve Chairman Alan Greenspan then (2001):
Federal Reserve Chairman Alan Greenspan said Wednesday he’s not worried that the new $1.35 trillion tax cut might plunge the federal budget into deficit.
“I’m not, senator,” Greenspan replied when asked by Sen. Charles Schumer, D-N.Y., at a hearing whether he was concerned about a potential slide back into government deficit spending.
And now (2005):
Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) said on Thursday he was not "overly" concerned about the record U.S. trade gap and heavy consumer debt loads, but the nation's budget outlook gave him pause.
"The resolution of our current account deficit and household debt burdens does not strike me as overly worrisome, but that is certainly not the case for our fiscal deficit," Greenspan told the Council on Foreign Relations in New York.
"Our fiscal prospects are, in my judgment, a significant obstacle to long-term stability because the budget deficit is not readily subject to correction by market forces that stabilize other imbalances," he said.
Hack. Complete fucking hack.