Hillary Blasts Greenspan on Debt, Says It Is a Threat to National Security
Email ABC News' Kirit Radia reports: Secretary of State Hillary Clinton took a swipe at Alan Greenspan today, saying the former Federal Reserve chair’s “outrageous” advice led to a ballooning national debt that Clinton said is now a threat to national security. "I served on the budget committee in the Senate, and I remember as vividly as if it were yesterday when we had a hearing in which Alan Greenspan came and justified increasing spending and cutting taxes, saying that we didn't really need to pay down the debt — outrageous in my view," she said.
Clinton said that the US debt has hurt "our ability to protect our security, to manage difficult problems and to show the leadership that we deserve.” "I do not like to be in a position where the United States is a debtor nation to the extent that we are,” America’s top diplomat said. Greenspan was first appointed as Fed chairman in 1987 by President Ronald Reagan and served under four presidents, including Secretary Clinton’s husband. During President Bill Clinton term in office, Greenspan was hailed as the economic genius as the US economy expanded in the latter half of the 1990s. Secretary Clinton did not specify which hearing she was referring to in her criticism of Greenspan today, but it would have come during President George W. Bush’s time in office. "It breaks my heart that 10 years ago we had a balanced budget, that we were on the way of paying down the debt of the United States of America," Clinton said. She urged lawmakers to take steps to lower the deficit, which has soared to new heights in recent years. "We have to address this deficit and the debt of the United States as a matter of national security not only as a matter of economics," Clinton said.
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Hmm…It will be interesting to see how Alan’s wife (MSNBC reporter and Obama cheerleader Andrea Mitchell) reacts to this…
Posted by: tjp612 | February 25, 2010, 6:10 pm 6:10 pm
If our Greatest Smartest Clueless Leader did not ridicule HRC’s idea of using the Bush-money-give-away to save banks and solve the foreclosure problems in 2007, you would have not been in this deep economic doodoo. Now he is so-thin skinned to wipe McCain, and, of course, you poor, less-educated dumbbutt voters he bought with his lying promises of your great great grand son’s money.
Posted by: slfjkljlk | February 25, 2010, 6:13 pm 6:13 pm
once again…with all this debt how can we do health scare and the other looney ideas of the left..yu cant. circular argument hillary
Posted by: catman | February 25, 2010, 6:33 pm 6:33 pm
I think Mr. Obama, not the debt, is our greatest threat to our national security.
Posted by: young_voter | February 25, 2010, 6:47 pm 6:47 pm
If thats the case then why are we spending even more money tripiling our deficit? So essentially she is saying that obama and the current administration is threatening our National Security. We already knew that but it’s nice to see democrats are finally realizing this. I don’t think obama is going to appreciate her comments but she may be using this as her first step to run against him.
Posted by: Stanley | February 25, 2010, 7:04 pm 7:04 pm
If this is her actual view, I think the bigger story is her lack of influence over Obama, not Greenspan.
Posted by: jafo | February 25, 2010, 7:06 pm 7:06 pm
It’s as if the Republican right is unable to read, remember – or think clearly.
The national debt was doubled under the Bush administration – and then under Bush the economy went into almost complete economic collapse.
Do you not have a clue what that does to the economy of the nation? Or to the federal, state and local budgets?
Posted by: tierra | February 25, 2010, 7:22 pm 7:22 pm
I think Hillary has said this before and its true – which is why Mrs Alan Greenspan, Andrea Mitchell, gets to cover her for MSNBC. Typical for NBC and MSNBC.
Posted by: glennmcgahee | February 25, 2010, 7:36 pm 7:36 pm
That’s funny — until now, the Democrat mantra was that there was nothing wrong with deficit spending. Where was Hillary’s outrage back then? The Republicans are just as much to blame – in fact, all the congresspeople who let this happen are to blame INCLUDING our current president.
Posted by: Chiara | February 25, 2010, 7:37 pm 7:37 pm
Careful, Hillary… you’re suggesting that Democrats in Congress are traitors to the US and they might start to cry.
Posted by: malclave | February 25, 2010, 7:41 pm 7:41 pm
Typical Democrat response designed to obscure the truth. Blame Bush for doubling debt yet the Messiah has added more debt than all the other presidents combined. Way to go Hillary. Was Greenspan the fall guy? He has always advocated balanced budgets. Keeping interest rates artificially low (circumventing market capitalism) may have contributed to our problems but the DEBT issue – Obamas and the 111th Congress. (Which by the way passed with the help of 3 GOP members)
Posted by: Jpatt | February 25, 2010, 8:06 pm 8:06 pm
Since Obama is quite content to create the largest deficits in our history, what should he say to Hillary?
1) “The campaign is over.”
or
2) “I won.”
Posted by: Woody | February 25, 2010, 8:09 pm 8:09 pm
Hillary goes Ron Paul. Nice. Here is a thought. Goldman Sachs has been core to bringing down the USA and Greece. Is Larry Blankfein more dangerous to the world than Osama? If so, where should the Hellfires be fired. Just saying….
Posted by: Huh | February 25, 2010, 8:35 pm 8:35 pm
tierra wrote: “It’s as if the Republican right is unable to read, remember – or think clearly. ”
.
Could you please explain for the audience when was the last time a DEMOCRAT congress submitted a balanced budget.
Posted by: gk | February 25, 2010, 8:42 pm 8:42 pm
Clinton is an idiot. She takes the one thing Greenspan said that was actually correct and criticizes him for it? Stuuuupid. Greenspan did drive the country in a hole, but Clinton is totally confused about why.
Posted by: Flash Override | February 25, 2010, 9:40 pm 9:40 pm
“That’s funny — until now, the Democrat mantra was that there was nothing wrong with deficit spending.”
Sadly, no. You are confusing what Republicans say about Democrats with what Democrats actually say.
Posted by: Flash Override | February 25, 2010, 9:42 pm 9:42 pm
tirra,
You memory deficient blind man. The proven incompetent Bush has to take 8 years to accumulate his dent, but our Greatest Smartest Clueless Leader tripled Bush’s in less than 12 months.
This cat thinks he should pull out of Iraq and Afghanistan now, not triple (another triple) up the troops. When is the end of another 18 year old ended up dead by his boneheaded mistake?
Posted by: fat cat | February 25, 2010, 10:49 pm 10:49 pm
tirra,
You memory deficient blind man. The proven incompetent Bush has to take 8 years to accumulate his dent, but our Greatest Smartest Clueless Leader tripled Bush’s in less than 12 months.
____________________________________
You have forgotten the Bush administration left an economy in almost complete free-fall collapse?
You have no idea what that does to federal, state and local budgets? What it does to deficit funding?
Posted by: tierra | February 25, 2010, 11:34 pm 11:34 pm
Sadly, no. You are confusing what Republicans say about Democrats with what Democrats actually say.
Posted by: Flash Override | Feb 25, 2010 9:42:36 PM
And the disregard Republicans have had for deficits in general, except when campaigning or stirring up conservatives with lip service to their rigid ideologies:
Reagan: “I am not worried about the deficit. It is big enough to take care of itself.”
Cheney: “”Reagan proved deficits don’t matter. We won the midterms. This is our due.”
Posted by: progressive mama | February 26, 2010, 12:14 am 12:14 am
You cannot blame a single person for the debt. It’s our entire government. Corrupt and wanting to do everything when it should be leaving that up to the people. Collect less taxes. Spend a heck of a lot less, and buy bonds rather than sell them. If our government makes us money on our taxes, we’ll be that much richer. Instead, they make us that much more in debt with their irresponsibility.
Posted by: Duda | February 26, 2010, 1:32 am 1:32 am
Hi
You DO see the pyramid scheme symbol on the back of the USA one dollar bill, right? You DO see the servitude infestation in capitalism, right? And do you see the “pay up or lose your wellbeing” Chicago mob-like felony extortion widespread within capitalism? Do you see the “join or starve” felony extortion done to the 18 year olds… by this ugly competer’s church called capitalism? See how forcing competer’s religions onto 18 year olds… kills membership in the cooperator’s church (Christianity/socialism)?? Do you understand that AmWay (American Way) (New World Order) got “the exclusive” (legal tender) on the TYPE of survival coupons (money) accepted in supply depots (stores) and leverages 18 year olds into the organization via that felony activity as well? (It puts AmWay-coupon slaving requirements called price tags… on all the survival goods). Do you understand how farmyard pyramids work… from your childhood?? Remember?? Upper 1/3 are “heads in the clouds” while the kids on the bottom ALWAYS GET HURT from the weight of the world’s knees in their backs? Still with me? Do you see anything illegal, immoral, or just plain sick… in any of this pyramid scheme’s activities?
Us American Christian socialists are still patiently awaiting the natural fall of the pyramid-o-servitude, or the busting of the free marketeers felony… by the USA Dept of Justice. Us Christians are VERY CLOSE to issuing a cease and desist order until the servitude and inequality goes away… which means it turns into a commune. Commune is a word we LOVE when used in the word “community”… but its one the caps HATE when used in the term “commune-ism”. Go fig. PROGRAMMED!!
Do a Google IMAGE SEARCH for ‘pyramid of capitalist’ to see a full color picture made way back in 1911, when capitalism was first discovered to be a con/sham instigated by the Free Masons/Illuminati. Folks sure bought into the thing… hook, line, and sinker just the same. The caps didn’t even check if a string was attached! Now THAT’S easy fishing, eh?
Time to level the felony pyramid scheme called capitalism. Abolish economies and ownershipism worldwide, and hurry. Economies just cause rat-racing, and rat-racing causes felony pyramiding. BUST IT, America! Look to the USA military supply/survival system… (and the USA public library system) for socialism and morals done right. Equal, owner-less, money-less, bill-less, timecard-less, and concerned with growth of value-criteria OTHER THAN money-value. Quit doing monetary discrimination immediately, and make it illegal. There are MANY measurement criteria of “value”… not just dollars. Try morals, efficiency, discrimination-levels, repairability, etc etc. Economies are cancerous tumors, and to cheer for their growth… is just insane. Profiting causes inflation, so if caps LIKE inflation, and if they LIKE a terrible time in afterlife when they meet the planet’s ORIGINAL OWNER before caps tried to squat it all with ownershipism, then keep it up with the felony pyramiding. I dare you. While us Christians are finally bulldozing that pyramid scheme back to level, lets make servitude and “join or starve” (get a job or die) illegal in the USA, and lets level the architecture seen in USA courtrooms, too. Right now, USA courtrooms are church simulators or “fear chambers”, by special design. Sick.
Isn’t that back-of-the-dollar pyramid… a Columbian freemason symbol? And WHERE is the USA gov located? District of Columbia? (Not even part of the USA!) How much more blatant can ya get? The “Fed” runs a pyramid scheme called the free marketeers. If you’re using the “federal reserve note” certificates, or using no-other-living-thing-on-the-planet entitles of ownership, you’re bought into a servitude/slavery con/sham… called capitalism. Pyramiding 101.
Posted by: wingnut | February 26, 2010, 7:22 am 7:22 am
progressive mama wrote: “And the disregard Republicans have had for deficits in general, except when campaigning or stirring up conservatives with lip service to their rigid ideologies:”
.
Since you too are yapping about Republicans and deficits in general, maybe you can answer the question that tierra won’t… when was the last time a DEMOCRAT congress submitted a balanced budget.
Posted by: gk | February 26, 2010, 7:36 am 7:36 am
More proof that HRC has a much better idea of what is going on.. than her erstwhile boss.
Posted by: DontGet818OnMeNow | February 26, 2010, 7:52 am 7:52 am
when was the last time a DEMOCRAT congress submitted a balanced budget.
Posted by: gk | Feb 26, 2010 7:36:42 AM
when was the last time a Republican congress did? And did they do it under a Republican or Democrat administration? And did they turn around and blow it under a Republican leader because a growing deficit is their due, per the VP?
Nixon was into deficit spending, so was Reagan, so was W.
Republicans have no credibility on deficit spending.
Our best bet is independents in Congress– those not bending over backwards to give corporations welfare– with an open-minded Democrat or independent in the Executive Office.
Posted by: progressive mama | February 26, 2010, 9:55 am 9:55 am
Why blame Greenspan, lets blame Bush.
Posted by: Lizzie | February 26, 2010, 1:07 pm 1:07 pm
You have forgotten the Bush administration left an economy in almost complete free-fall collapse?
Posted by: tierra | Feb 25, 2010 11:34:50 PM
Please look back and see when this free-fall started????? Might surprise you.
Apparently you have no clue, so just write whats on your piece of paper in front of you and if all fails blame BUSH.
Posted by: Lizzie | February 26, 2010, 1:13 pm 1:13 pm
how sad that we are so distracted by political debate and argument when the real culprits are grinning from ear to ear – the international / wall street bankers.
Posted by: gb | February 3, 2011, 9:02 pm 9:02 pm