The Republicans’ new voodoo economics?
When John McCain was running for the Republican presidential nomination nearly 12 years ago, he declared that Alan Greenspan was so critical to the economy that, if the then-Federal Reserve chairman died, he'd put sunglasses on the body, prop him up and hope no one noticed.
It's safe to say that GOP opinions of the Fed have slipped a bit since. Texas Gov. Rick Perry, a newly declared candidate for president, said it would be "treasonous" for Greenspan's successor, Ben Bernanke, to "print more money between now and the election" in an effort to boost the economy. Other candidates have been equally damning if slightly less extreme in their statements. Rep. Michele Bachmann of Minnesota has accused the Fed of "debasing the currency," while Rep. Ron Paul of Texas has written a bestseller called "End the Fed." The party's economic standard-bearer in the House, Paul Ryan of Wisconsin, repeatedly charges the Fed with "bailing out" what he considers President Obama's reckless fiscal policy and wants the institution stripped of its mandate to promote employment.
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Source: http://feeds.washingtonpost.com/click.phdo?i=603dcfae9f770d34f5f92fe557262690
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