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Tuesday, June 7, 2011

ALAN GREENSPAN & THE BUSH TAX CUTS: ON THE ONE HAND, ON THE OTHER HAND


THE BUSH 
TAX CUTS 


Back in the eighties 
Chair, Federal Reserve, 1987-2006 

Greenspan was for the Bush tax cuts before he was against them.  On the one hand, he was for them when George W. Bush proposed them, giving the president cover from his perch as Chair of the Federal Reserve Board.  On the other hand, he is against them now, out of office, because, he says, the deficit scares him

It is said that Harry Truman wished for a one-handed economist, so he could not be told, "On the one hand..., but on the other hand," when seeking economic advice.  Some sources credit this wish instead to Truman's eventual Democratic successor, Lyndon Johnson. 

More GREENSPAN here 

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