March 4, 2005
NOT SO MAESTRO:
Senate Democratic Leader Blasts Greenspan (Dan Balz, March 4, 2005, Washington Post)
Federal Reserve Chairman Alan Greenspan generally gets accolades for his public pronouncements. Yesterday he got a brickbat from Senate Minority Leader Harry M. Reid (D-Nev.), who blasted Greenspan as "one of the biggest political hacks we have here in Washington." [...]A spokeswoman said the Federal Reserve would have no comment. Brian Jones, spokesman for the Republican National Committee, which a few weeks ago sharply attacked Reid, called the minority leader's comments regrettable.
"It's unfortunate that at a time when the president is looking to engage Congress in a substantive and meaningful discussion on Social Security that Harry Reid is spending his time attacking the Federal Reserve chairman," he said.
Reid's personal attack reflected Democrats' frustration over Greenspan's support for the key element of Bush's Social Security plan -- voluntary personal saving accounts for younger workers funded by diverting a portion of payroll taxes.
Where's the percentage in attacking a central banker, nevermind one who's revered as some kind of a genius, while you have no public identity beyond obstructionism? All you do is drive up your own negatives. Posted by Orrin Judd at March 4, 2005 12:06 PM
What a week! In the beginning of the week we had the ADL called a GOP group by the left(overs) for denouncing Byrd(brains) speech in the Senate. Now at the end of the week we have Reid claiming Greenspan is one of the GOP's biggest political hacks. These comments bookend the MSM's thoughtful cheerleading for North Korea. The leaders of todays Democratic party would fit in better in a politburo than in the US Congress.
Posted by: capt mike at March 4, 2005 2:07 PMWhat will the Democrats say if Robert Rubin endorses Social Security reform, and personal accounts to boot?
I have not yet seen him quoted on the subject, but he will be.
Posted by: jim hamlen at March 4, 2005 2:27 PMJim - I don't know Rubin's history on SS reform - has he come out for personal accounts? If so is he too closely tied to the Dem machine to support them now? And if he did come out for personal accounts the Dems would just label him another super-rich wall street greedy guy.
Posted by: AWW at March 4, 2005 3:42 PM