Barry Ritholtz thinks that Michael Eisner and Alan Greespan should switch places. Even though it is a little tongue in cheek, he makes a good case for it.
On Wednesday, Alan Greenspan went to the 2nd happiest place on Earth: The U.S. Congress. It is a land where you get to spend other people's monies to your heart's content, where deficits don't matter, where members get the greatest health care coverage in the world, guaranteed free for life.
As you would well imagine, this is a somewhat receptive audience to fables and fairy tales, and the Fed Chief did not disappoint. Sir Alan served up some wondrous stories, and presented an aggressively optimistic worldview to boot. The happy talk continues today, with round two in the Senate.
Is it sad that I find such criticism of the Congress more true than funny? I share Greenspan's optimism that we will soon begin adding more jobs, once the slack in the economy is gone, but I do worry about long-term deficits, especially now that neither party seems particularly interested in spending cuts. It's young guys like me who are going to end up paying all this back. If I could hope for one thing in the future it would be that my fellow GenXers come to see their problems as their own, and not the responsibility of the government to fix. With hopes like that I too am living in Disneyland…