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I am of the opinion that for some time now Alan Greenspan has had more influence on the fate of this country than any of our elected officials. Unlike the politicians, he wears his calling as responsibility, not status. You have to feel for him when he goes before the House Financial Services Committee to get aggressively cross-examined by members from both sides of the aisle. Whether they are reading carefully formulated questions, delivering amateur digest lectures on macro-economics, or attempting to be clever with yes/no or multiple choice tricks, they all want Mr. G to endorse their contrary policy decisions. Greenspan, with chin in hand, soldiers through the session, occasionally able to insert nuggets of his own philosophy. The bottom line is he believes investment stimulates the economy most where it increases productivity: predominantly in the private sector, not the public. His chief concern is the unbridled growth of government, where entitlement programs coupled with demographic trends will lead to unbearable expenditures. Meanwhile he sees federal deficits undermining the fabric of our fiat economy. Yes he is conservative and no the Bush budget is not a good strategy for long-term growth. My question for you, honourable members of Congress, is are you even listening to the answers or is fiscal responsibility not really on the Capitol Hill agenda at all?
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