Negroponte Gets the Nod & Greenspan's Green Light

today President Bush nominated John Negroponte as his pick for the newly created position of Intelligence Director.

the announcement comes after weeks of grumbling by the Dems over what they perceive as Bush dragging his heels on appointing someone to the position. but the fact that there is even a position to fill came about in an odd way.

the 9/11 Commission concluded that one of the errors leading to events of September 11, was the lack of communication between the 15 different intelligence agencies. their idea was to create a focal point for all of the information to be processed. this person would then have control over budgets and would report to the President.

the strange part about the Commission was the fact it was needed in the first place. seems like America is the only place where we get attacked and then investigate ourselves!

no doubt Mr. Negroponte will have his hands full if he is confirmed. the position will be tricky as he will report to the President, and i'm sure will take the White House's lead. also, it will be interesting to see how this new Director gets along with the Pentagon. i'm sure they won't like some guru having control over their budget.

good thing Negroponte has such experience in diplomatic situations.

in other news.

yesterday Fed Chief Alan Greenspan began his testimony before members of the House Financial Services Committee.

Greenspan gave his approval of the Presidents plan to create private Social Security accounts. but cautioned to move slowly.

the President's plan would cost around $754 billion over ten years and seemed to be in a price window that Greenspan would agree with. other's have put the cost of the plan anywhere from $1 trillion to $4 trillion dollars.

the idea that nothing needs to be done is reckless. even Greenspan said it's risky to do nothing. because, right now it's not Social Security. it's So-So Security.