With less than three months to retirement, America’s monetary demigod yesterday warned that deficits do matter after all. Alan Greenspan scolded that the red ink on the government’s budget ledger is a ticking time bomb. “Unless the situation is reversed, at some point, these budget trends will cause serious economic disruptions,” the Fed chief said yesterday in Congressional testimony, according to AP via BusinessWeek. He want on to remark, “I find it utterly inconceivable, frankly” that ongoing budget deficits in the long run “will not have a significant impact on long-term interest rates.”