Greenspan Warns Deficit Could Wreck Economy

The administration’s own Federal Reserve Chairman, Alan Greenspan, warned this week that “The persistence of bloated U.S. trade deficits over time can pose a risk to the U.S. economy.” So far, Greenspan said, foreigners have been willing to lend the U.S. money to finance the current account imbalances, but “at some point foreigners might suddenly lose interest in holding dollar-denominated investments.

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Destroy The Rest Of The Constitution

Well, any hope that Bush might mellow a little as a lame duck went away this week with his appointment of John Ashcroft’s replacement. Bush proved Wednesday his personal contempt for the Constitution by replacing one hater of the U.S. Constitution with another – nominating right-wing zealot Alberto Gonzales to replace his head Nazi – John Ashcroft – as attorney general.

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