[Congressional Record (Bound Edition), Volume 153 (2007), Part 18]
[House]
[Page 24517]
[From the U.S. Government Publishing Office, www.gpo.gov]




               ALAN GREENSPAN AND THE BUSH ADMINISTRATION

  (Mr. EMANUEL asked and was given permission to address the House for 
1 minute.)
  Mr. EMANUEL. Mr. Speaker, in Alan Greenspan's recently released 
memoir, President Bush and the Republicans in Congress come in for some 
sharp criticism.
  Reuters said of the book, ``Mr. Greenspan sharply criticizes 
President Bush's administration and Republican congressional leaders in 
his memoir for putting political imperatives ahead of sound economic 
policies.''
  The New York Times said of Mr. Greenspan's book described, ``The Bush 
administration is so captive to its own political operation that it 
paid little attention to the fiscal discipline for the Nation.''
  Increasing America's debt by $3 trillion, the same fiscal discipline 
we had in the 1990s, the pay-as-you-go rules, led to a $5 trillion 
surplus when President Bush took office and has led to a $3 trillion 
debt increase under President Bush and the Republicans.
  The fiscal discipline that we had in the 1990s is exactly what the 
Democrats have put in place in this new Congress, hoping to put in 
place the fiscal type of discipline and the budgetary discipline that 
would lead us again to surpluses and balancing America's book.
  And Mr. Greenspan could not have said it better, when people have 
taken the time to put their political interests ahead of America's 
long-term economic interests.

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