Greenspan to French finmin: US lost deficit control

[Jon8503]

By Paul Carrel - Sun Sep 25, 4:32 AM ET

WASHINGTON (Reuters) - U.S. Federal Reserve Chairman Alan Greenspan told France's Finance Minister Thierry Breton the United States has "lost control" of its budget deficit, the French minister said on Saturday.

"'We have lost control,' that was his expression," Breton told reporters after a bilateral meeting with Greenspan.

"The United States has lost control of their budget at a time when racking up deficits has been authorized without any control (from Congress)," Breton said.

"We were both disappointed that the management of debt is not a political priority today," he added.

http://news.yahoo.com/s/nm/20050925/bs_nm/group_france_greenspan_dc;_ylt=AjjDfJ0iZmznImdQNqQo2CKyBhIF;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl

[AX10]

1. Bush and Co lost. It.

Clinton gave us fiscal stability and Bush stole it away from the people.

The debt levels are just too high to be sustained.

[Bernardo de La Paz]

2. For strangling FEMA, levees and wetlands, the bill is $200 billion.

This is supposed to be the first MBA president. Instead of good governance, we got corruption, mismanagement, and false economy. For the cost of a billion dollars on levees and wetlands, we have a $200 billion bill due.