"Greenspan cautioned against being lulled into a false sense of security about the deficit,

Americans’ low savings rates or

the nation’s trade deficit

just because these problems have not yet triggered rising interest rates or a steep fall in the value of the dollar.

"Posing the question of whether something has fundamentally changed that would allow the country to “disregard all the time-tested criteria of imbalance and economic danger,” Greenspan said, “Regrettably, the answer is no. The free lunch has still to be invented.”

It'sa comin'. The next President is going to have one heckuva Cheney/bush mess to clean up.

Sorta like Clinton cleaning up after Reagan, only this time it'll be worse.

Arf