Greenspan Has Left the Building

BERKELEY – The first time I went to Washington, DC, as an adult was in 1993, when I arrived to work for President Bill Clinton in the Treasury Department. Back then, America urgently needed to rebalance the federal budget to rein in explosive growth in the debt/GDP ratio; to overhaul America’s extraordinarily expensive and inefficient health-care system; and to begin to deal with global warming via a slow ramp-up of a carbon tax.