The U.S. economy “is going nowhere” until a budget agreement is reached
that includes debt reduction to revive sustainable growth, former
Federal Reserve Chairman Alan Greenspan said.
“Unless we remove some of the deep-seated uncertainty, especially for investments in very long-lived assets,” growth will remain under 2 percent, Greenspan said during a “Bloomberg Surveillance” television interview with Sara Eisen in Washington.
Greenspan said he supports the $2.5 trillion package of spending cuts and tax increases proposed by Erskine Bowles and Alan Simpson. An update of the plan released in Washington includes $740 billion in increased revenue over the next decade that Republicans have deemed unacceptable and a higher eligibility age for Medicare that President Barack Obama has rejected.
Read more: http://www.moneynews.com/Economy/Alan-Greenspan-economic-growth-budget-deal/2013/04/19/id/500416#ixzz2R0q6rR6s
“Unless we remove some of the deep-seated uncertainty, especially for investments in very long-lived assets,” growth will remain under 2 percent, Greenspan said during a “Bloomberg Surveillance” television interview with Sara Eisen in Washington.
Greenspan said he supports the $2.5 trillion package of spending cuts and tax increases proposed by Erskine Bowles and Alan Simpson. An update of the plan released in Washington includes $740 billion in increased revenue over the next decade that Republicans have deemed unacceptable and a higher eligibility age for Medicare that President Barack Obama has rejected.
Read more: http://www.moneynews.com/Economy/Alan-Greenspan-economic-growth-budget-deal/2013/04/19/id/500416#ixzz2R0q6rR6s
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