Greenspan Reverses Truth About War

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Congressional Republicans "swapped principle for power," he wrote. "They ended up with neither. They deserved to lose." And though he urged Bush to veto bills to exercise fiscal discipline, the president did not follow through, and that was a "major mistake."

Since we know Greeenspan wasn’t implying that Bush veto security and war effort expenditures it becomes clear that Greenspan thought Bush should veto domestic spending, otherwise known as discretionary non-military spending. Which in this case under Bush was being slowly diverted anyways to the war or outright defunded. It becomes reasonable to assume that Bush created deficits with his tax cuts, annual Iraq war appropriations and “loose” money induced inflation. In other words, Bush did the exact opposite of what should have been done but what Greenspan was proposing was even worse. He wanted to go much further and basically suffocate federal spending.

By far, the most important statement with any merit in Greenspan's book is…….

War for Oil “I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.” – Alan Greenspan

No double-talk here, just plain easy to understand English. Can you imagine all the snide remarks coming from the right after that one? ...... Why does he hate Bush? Why does Greenspan hate America. Why does he hate our troops? The right-wing blackballers of truth must have stepped in quickly because less than two days later, Greenspan is claiming that securing Iraq oil was not the administrations motive.......IT WAS HIS?!

Greenspan Backtracks:
The fiscal guru quickly backed off that assertion by suggesting that while securing global oil supplies "was not the administration's motive," it should have been. He said when he made the argument that ousting Saddam Hussein was "essential" because of the threat he posed to U.S. oil interests in the region, White House officials told him "Well, unfortunately, we can't talk about oil."

Is that like trying to assasinate Hugo Chavez as an “essential” action because of the perceived threat he poses to Bush Administration oil interests in the region? The more Greenspan talks to reverse the truth, the more he ends up just burying himself.It also turns out that Greenspan's Federal policy over interest rates may have been was a huge contributing factor in the collapse of the sub-prime mortgage industry. Of course, just because Greenspan gave greedy lenders an inch, doesn't mean they should have taken a mile.

Petraeus Report:
Without guaranteed access to Iraq's oil, we absolutely could not maintain our military and economic dominance of the world. Vice President Cheney has known this, even spoken publicly about it, for many years. And why else would he have convened a meeting of Big Oil representatives within his first month in the White House to pore over maps of Iraq's oil fields, as if that were the top priority of the administration?