Greenspan says; ``Crafting a budget strategy that meets the nation's longer-run needs will become more difficult the more we delay,'' Greenspan said. ``In the end, the consequences for the U.S. economy of doing nothing could be severe.''
``Crafting a budget strategy that meets the nation's longer-run needs will become more difficult the more we delay,'' Greenspan said. ``In the end, the consequences for the U.S. economy of doing nothing could be severe.''
In his remarks today, Greenspan favored spending cuts over tax increases as the best way to close the deficit.
``Tax increases of sufficient dimension to deal with our looming fiscal problems arguably pose significant risks to economic growth,'' he said. Such risks are ``sufficiently worrisome to warrant aiming, if at all possible,'' to use mainly spending cuts to close the gap.
Why dont they listen to him????
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(20min delay)