Governments are disagreeing about whether or not Alan Greenspan actually said that “we have lost control” of the federal budget deficit. Whether or not Greenspan actually said that, the question being begged here has to be, Is this news to anyone?

The national debt is now nearly eight trillion dollars, and with governmental spending out of control, it’s only getting worse. This is not just bad for us. This is bad for the whole world. The United States is the world’s single largest economy and a major player in the global economy; when our government undermines its own fiscal stability like that, it affects the rest of the world’s economic stability, as well. And other countries are noticing. It’s not just our policies of arrogance, aggression and violence that are alienating the rest of the world; it’s also our government’s economic irresponsibility.