News Greenspan warns against deficits

1. Feb 25, 2004

Ivan Seeking

Staff Emeritus
http://money.cnn.com/2004/02/25/news/economy/greenspan/index.htm?cnn=yes

2. Feb 25, 2004

@#$! dude, no way, like that is totally out there.! 3. Feb 26, 2004 selfAdjoint Staff Emeritus Yep, Greenspan is a "running dog of capitalism" if anybody on this green earth is, and it's natural for him to balance the budget on the backs of the poor (who don't make enough to save, and are dependent on social security) instead of the rich (he never considered restoring the tax cuts Bush gave to the people making over$200,000 a year).

Added in edit. I now see that instead of not mentioning the tax cuts, Greenspan positively said they shouldn't be repealed. So he was an even stronger partisan of rich vs. poor.

Last edited: Feb 26, 2004
4. Mar 1, 2004

Zero

It is insane to say that teh budget should be balanced by way of hurting the weak, instead of asking the powerful to make "sacrifices". Repealing the tax cuts for the wealthiest few won't hurt them a single bit, and will help the country in the long run.

5. Mar 1, 2004

phatmonky

2/3's of our economy is made of consumer spending. Tax cuts will help, despite the nay sayers. Greenspan has been listened to by both sides of the aisle for as long as he has been around.

What doesn't help, however, is bloated medicare bills (to the tune of 400 billion) and other wasteful government spending. Tax cuts and social cuts work (and are my preference) AND taxing and spending works (in it's own way). You can't half of each.