Greenspan: Maestro or Partisan Hack?

In speeches and testimony, Mr. Greenspan, chairman of the Federal Reserve Board, is piecing together a theory about debt that departs from traditional views and even from fears he has himself expressed in the past.

In the 1990's, Mr. Greenspan implored President Bill Clinton to lower the budget deficit and tacitly condoned tax increases in doing so. Today, with the deficit heading toward a record of $500 billion, he warns more emphatically about the risks of raising taxes than about shortfalls over the next few years-NY Times

Funny how deficits are only a problem when Democrats are in charge, but when a Republican President is running for re-election they suddenly cease to matter. It is hard to imagine Greenspan being any more political than he is now short of his wearing a Bush-Cheney 2004 lapel pin.