Head in the Sand Award Dept.

Reuters for February 13 says that

in testimony this week before Congress, Federal Reserve Chairman Alan Greenspan seemed comfortable with the dollar's decline, saying foreign companies had so far been able to absorb the impact. He said it would also eventually help contain the huge trade surplus as foreign producers export less to the United States.

The same article also says that

[t]he U.S. trade deficit widened nearly 11 percent in December, as strong U.S. economic growth sucked in record imports and exports inched lower despite a weaker dollar....

The December figures pushed the 2003 trade gap to a record $489.4 billion, up 17 percent from the prior year.

Why in hell are we still listening to this man?