[dante1]

Alan Greenspan a Republican and one sharp cookie slams the Bush adminstration and policies in a new book. Calls Clinton one of the smartest presidents he ever worked with. Says the R's betrayed the country and deserved to lose the election.







Greenspan book: GOP 'swapped principle for power'
Story Highlights
Greenspan: Bush deprived nation of checks, balances by failing to veto bills

Treasury secretaries not included in economic policymaking, Greenspan alleges

White House responds that its "economic policy was right, as our records show"

Ex-Fed head: Clinton either shared my views or he was "cleverest chameleon"

(CNN) -- Former Federal Reserve Chairman Alan Greenspan slams President Bush and today's Republicans, while calling Richard Nixon and Bill Clinton "the smartest presidents" he worked with, according to an advance copy of his upcoming book.

He further says the GOP deserved the stomping it took in November's congressional elections -- a ballot that saw both houses of Congress wrested from Republican control -- because the party "swapped principle for power."

His book, "The Age of Turbulence: Adventures in a New World," is scheduled for release Monday. CNN obtained a copy Saturday.

In the book, Greenspan wrote that Bush essentially left an unbridled GOP Congress to spend money however it saw fit, and by not vetoing a single bill in six years, the president deprived the nation of checks and balances.

"The Republicans in Congress lost their way," Greenspan wrote. "They swapped principle for power. They ended up with neither. They deserved to lose."

Greenspan, an 81-year-old Republican who retired last year after five terms as Fed chairman, wrote that he made no secret of his view that Bush should reject some bills.

"It would send a message to Congress that it did not have carte blanche on spending," Greenspan recalls telling the administration. "But the answer I received from a senior White House official was that the president didn't want to challenge House Speaker Dennis Hastert. 'He thinks he can control him better by not antagonizing him,' the official said."

The White House, however, said that vetoes weren't necessary because Congress "worked with us."

"The Republican Congress stayed within the president's top-line numbers on non-national security appropriations bills. We had veto threats, which were used to good effect to keep spending within the president's numbers," said spokesman Tony Fratto.

Greenspan wrote in his book that the decision was costly.

"To my mind," he wrote, "Bush's collaborate-don't-confront approach was a major mistake -- it cost the nation a check-and-balance mechanism essential to fiscal discipline."

He further wrote that former Treasury Secretary Paul O'Neill "found himself the odd man out; much to my disappointment, economic policymaking in the Bush administration remained firmly in the hands of the White House staff."

Fratto countered that O'Neill and former Treasury Secretary John Snow "had the opportunity to present their ideas through the policymaking process. If ideas failed to carry the day, it probably had something to do with the force and logic of the policies being advocated, rather than anything about the 'process.' Ideas were considered, sometimes they achieved consensus, sometimes not -- nothing unusual there. At any rate, where we ended up on economic policy was right, as our records show."

"We're not going to apologize for increased spending to protect our national security," Fratto said. "That isn't just increased spending. It's an investment in the safety and security of the nation, which is also, by the way, an important economic objective."

Greenspan praised former President Clinton and his attitude toward economic policies, saying, "either Clinton shared many of my views on the way the economic system was evolving and on what should be done, or he was the cleverest chameleon I'd ever encountered."

"Clinton was often criticized for inconsistency and for a tendency to take all sides in a debate, but that was never true about his economic policy," he wrote. "A consistent, disciplined focus on long-term economic growth became a hallmark of his presidency."

Greenspan said Clinton and former President Nixon were "by far the smartest presidents I've worked with."

The former Fed chairman says his view of the Bush administration was not always so grim, and that he was initially excited about Bush's election.

"I looked forward to at least four years of working collegially with many of the government's best and brightest men, with whom I had shared many memorable experiences. And on a personal basis, that is how it worked out," Greenspan wrote. "But on policy matters, I was soon to see my old friends veer off in unexpected directions."

CNN's Suzanne Malveaux and Jennifer Rizzo contributed to this report.

All AboutAlan Greenspan • The White House • Bill Clinton •

[Willie Bee]

Originally Posted by dante1

Greenspan said Clinton and former President Nixon were "by far the smartest presidents I've worked with."

Pretty funny quote since it's something that has come up in a previous thread here, both Nixon and Clinton being smart enough to get re-elected.

Very interesting interview last night on 60 Minutes. Enjoyed hearing what the man said and can't wait for a brother-in-law to hurry up and buy the book so I can read it for free

[dante1]

Originally Posted by Willie Bee

Pretty funny quote since it's something that has come up in a previous thread here, both Nixon and Clinton being smart enough to get re-elected.

Very interesting interview last night on 60 Minutes. Enjoyed hearing what the man said and can't wait for a brother-in-law to hurry up and buy the book so I can read it for free

Clinton in my opinion was just plain smart. The guy
is a Rhodes scholar. He would give speeches and quote
stats off the top of his head and be correct. He understood politics and his tenure as president was successful. Just compare then and now, doesn't take a rocket scientist.

Nixon could have been a great president. He did have
some accomplishments. His flawed character ruined his presidency, obviously. That's a shame because politically he was 100% better than the crazy we have now.

[Willie Bee]

NOTE: From the (60 Minutes) segment: "[Greenspan] got so close to Clinton and his economic team, that he began visiting the White House as often as once a month, something his predecessors had not done."

But 60 minutes didn't note that Greenspan spent far more time with Bush.
LINK

My first thought when I read this was of course Greenspan spent more time with Bush since it undoubtedly took Greenspan longer to explain some basic economic principles to Dubya

Interesting how there's been this rush by many conservatives to condemn Greenspan since he left office, yet in this case the site/author thinks Shrub is getting the short end of the media stick.

[BatemanPatrickl]

Originally Posted by dante1

Clinton in my opinion was just plain smart. The guy
is a Rhodes scholar. He would give speeches and quote
stats off the top of his head and be correct. He understood politics and his tenure as president was successful. Just compare then and now, doesn't take a rocket scientist.

Nixon could have been a great president. He did have
some accomplishments. His flawed character ruined his presidency, obviously. That's a shame because politically he was 100% better than the crazy we have now.

And Clinton was an upstanding citizen? You are so full of left wing bullshit that it comes out your nose when you stand up. This is a gambling forum so you may want to post some of your picks sometime and not hang out in the Politics section so much. Let me ask you a question, was Jim McGreevey a good governor for NJ? This is a true test of your so called intelligence.

[Willie Bee]

Originally Posted by dante1

Nixon could have been a great president. He did have some accomplishments. His flawed character ruined his presidency, obviously. That's a shame because politically he was 100% better than the crazy we have now.

Agree on the 100% better than the crazy we have now. That was my real foray into politics as an adult in many ways, working on his re-election campaign at the Houston office in the Fall of 1972. Of course, my main reason for doing so was to court a young lady. The courting turned out as successful as Nixon's second term!

Still, I was happy that the draft was already slowing at the time and then ended so that I didn't have to go to SE Asia. Went anyway a few years later, but on a commercial venture, not with a rifle slung over my shoulders.

[EJandV]

Lol at Bateman . I think Clinton was a good president but what do I know . He sure doesn't have sexual urges like people on here with their religious avatars . Maybe you should try and change your female nuddies and make your avatar represent the real patty . lollllllllllllllllllllllll

[BatemanPatrickl]

Originally Posted by EJandV

Lol at Bateman . I think Clinton was a good president but what do I know . He sure doesn't have sexual urges like people on here with their religious avatars . Maybe you should try and change your female nuddies and make your avatar represent the real patty . lollllllllllllllllllllllll

lol man u got me there ejand v but on the real where i wuz raised, i wuz a scrabble champ as well my spelling may not be good but the Braves won each time i mispelll a word but look 8-1 since my wifey was made in gods kitchin and 9-1 since i mispellled words but look smoke that shit dog and me/u will hang don't havee time to spell or grammear but do have tim to flame oh well 1 love 1 earth peace dog nahhhh mean?

[EJandV]

I think Greenspan is a very good author and makes a positive contribution to our society . We are very lucky to have people like him that TRY TO keep it real , like when he declared the prime motive for war in Iraq was for frigggggin oil . Oil ???????????? so people could take longer trips crowding the highways even more and the gas companies could prosper ?????????????? gezzzzzzzzzzzzzus
I would rather everyone plant their own food and live in log cabins , chopping wood for heat and having to wallllllllllllk to get somewhere , now that is a shellshocker , like people dont need the exercise in our country .
Note : this was in reference to americans losing their lives vs their lives being spared by not going to frigggggggggggggin Iraq !!!!!
By the way Bate , you seem to think I za iza thug with the nah mean and slang , have you ever heard of the word versatile , muti talented , experienced in different walks of life , damn should I suck just because you think so .
Reminds me of a guy (we will call him negat ) that said everyone sucked it seemed .
Here was a typical convo . Me > Damn look at Brady hes getting busy . Negat > ahh he sucks . Me > what do you mean he sucks he's killin em . Negat > nah I hate him , I always have . Now this convo could be just about anybody in all of sports and he would say the same shi# . Oh well ...