Greenspan reaches for past glory, talks about deficits

If Greenspan would have retired a few years ago he would have gone down as one of the best, rightly or wrongly. In the last few years he has come to look like a bumbling fool who is out of touch and grasping for anything that might propel him back to his former glory days. The deficit problem has clearly been a problem for a while now and finally he has decided to talk about it and as one might guess, the markets dropped on his confirmation of the problem.

For all of the Clinton bashers out there that always credited Greenspan (and not Clinton or the Democrats) for the booming economy in the 1990s, maybe it's time to re-think those remarks.