Greenspan + Red Ink = Pink Slip

Ronald Brownstein really hit the bull’s eye when he accused Federal Reserve Chairman Alan Greenspan of contributing to the growing federal budget deficit (Washington Outlook, March 7). Greenspan’s gobbledygook in support of income tax cuts, a consumption tax and private Social Security accounts is no more than blatant pandering to President Bush.

Meanwhile, Greenspan has utterly failed to provide policymakers with guidance on how to cope with the emergence of China and the European Union as the dominant economic powers during this century.

Darwin Gamble

Tallahassee, Fla.

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Brownstein’s column puts it out for all to see: Greenspan stays with Bush’s Yesman Club and has done Bush’s bidding because his club membership would have expired on Greenspan’s first “no” -- as other Bush appointees have found out.

Too bad for our country and too bad for Greenspan’s place in history.

James R. Gallagher

Huntington Beach

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Thank you, Ronald Brownstein, for pointing out the complicity of Greenspan in creating the federal deficit he is now bemoaning. It looks more and more as if it is time to begin planning his retirement party.

Carolyn King

Silverdale, Wash.

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I’m confused. Just exactly what political office has Greenspan ever been elected to?

Ralph S. Brax

Lancaster

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Re “Greenspan Sees the Value of Taxing Personal Consumption Over Income,” March 4: The Federal Reserve chairman deserves a trip to my native Canada to see how his proposed “consumption tax” really works -- or doesn’t.

Combined with local taxes, Canada’s national sales tax places a penalty of up to 15% on nearly every transaction, however fun or fundamental: movie tickets, postage stamps, even funeral services -- this is a real “death tax,” which Americans won’t tolerate.

Greenspan’s fantasy of a consumption tax “promoting economic growth” is just irrational exuberance.

Consumer demand drives the U.S. economy; a consumption tax would depress it.

Canada has maintained its economic growth largely by exporting to the low-tax U.S. economy. But the U.S. is a net importer. If we hobble our own huge market, where will we turn for growth?

Before this latest outrage, Greenspan proposed arbitrarily cutting the benefits that retirees have paid for.

He endorsed the Bush administration’s wasteful tax cuts and record deficits -- which now endanger those benefits -- and he’s presided over a dreadful economy.

He should be retired. Without the government pension he was originally promised.

Michael Katz

Berkeley

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The real responsibility for the deficit lies with the millions of Americans who have demanded programs of Social Security, Medicare, Medicaid and farm subsidies paid for by someone else. This is government implementation of “from each according to his ability, to each according to his need.” No idea could be more profoundly un-American. America is the land of individualism and self-reliance with charity as the only moral option for those unable to care for themselves.

Ralph C. Whaley

Barron, Wis.