"Greenspan calls for repeal of Bush tax cuts; Warns of crisis if US coffers drained further" by Sewell Chan, New York Times | August 7, 2010
Alan Greenspan, 84, the former Federal Reserve chairman, said yesterday in a telephone interview:
“The problem we now face is the most extraordinary financial crisis that I have ever seen or read about.’’
Anyone tell him we are supposed to be in recovery and growing?
Greenspan, who led the Fed for 18 years until he retired in 2006, warns that without drastic action to increase federal revenue and reduce the long-term growth in health care costs, bond investors could make a run on Treasury securities, driving up the nation’s borrowing costs and leading to another global economic crisis....
He's signaling that their is going to be another one soon.
All part of the plan.
And guess who will be making out again.
While Greenspan’s reputation has been tarnished, his opinion still carries considerable weight....
With who? Agenda-pushing newspapers?
“We are going to have to confront a major surge in medical entitlement spending. Irrespective of what you say should be done on the tax side, you still have to cut some benefits on the expenditure side,’’ Greenspan said.
How about CUTTING the WAR BUDGETS instead?
Related:
"Greenspan, 83, raised concern about the impact of health care costs driven by the Medicare and Medicaid entitlement programs.... and raised the question of rationing medical care"
And you thought single-payer would have been bad?See this: No Choice With Obamacare
What, Obama and the Congress lied to you and he is doing exactly as Greenspan suggested?
What a surprise.
Asked whether higher taxes in 2011 could choke off the nascent recovery, Greenspan replied: “It is risky, but the choice of not doing it is far riskier.’’
Yeah, he's for HIGHER TAXES, too!!
Pfffft!
--more--"
Stinking PoS!
I'm just wondering why we should keep listening to a liar?
