Can be found here. Thought we should have the parts the press is going to ignore available.

I find Greenspan's low-key approach typical, considering the weight the economy puts on his words, but you get the idea he'd really like to bust loose once, kicking ass and taking names.

Note the emphasis on spending restraints, and his pointing out that "the recent surge in discretionary spending, necessitated only in part by the war on terrorism and the need for enhanced homeland security, has also made the budget picture less sanguine." Translation: a little less pork might be useful, guys. Note also the warning against tax increases--another bit that probably won't make the New York Times.

His discussion of government accounting techniques and the resulting concealment of vast liabilities was also interesting. Government accounting tricks and sleight-of-hand designed to make the budget look like whatever the government wants it to at that particular moment is a standard operating procedure. This is one reason I almost busted a gut laughing at Senators and Congressmen looking down their noses at Enron and the other companies who cooked the books to make a good impression.

Of course, the Winter Olympics will be held in Hell before the government switches to accrual accounting or any other form of accounting that would reveal to the general public the vast fiscal abyss that social spending entitlements have created, so Greenspan is wasting his breath.