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Greenspan : "we have lost control" of the budget

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Ya don't say? Well I certainly hope he was including himself in this budget fiasco because he's been struggling to take a side for years now in an attempt to win back his reputation. Yesterday Greenspan admitted the ugly truth to the French Finance Minister. After years of hearing the wingnuts talk about irresponsible liberal spending, we can now put that rubbish to bed and face the fact that the GOP is completely incapable to fiscal restraint. Greenspan is incapable of making up his mind, giving lip service to both sides and only "warning" about the run-away spending after the fact, going along with the insane budget deficits and reckless tax breaks to try.

What is ironic here is that after hearing about the dangers of China for the last few years from the right (and perhaps some of it warranted) they are now selling out to Beijing once again. With Congress having a hard time finding any pork to cut, the spending will increase and the deficit is being sold to Tokyo and Beijing. So with China owning so much of the US deficit, just how easy is it going to be negotiate with China on key issues such as human rights, economic liberalism and other important issues? Great planning once again.

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