Tags: greenspan | economy | economic | check

Greenspan: Budget Solution Key to Revive Economic Growth

Friday, 19 Apr 2013 09:24 AM

 

A U.S. budget agreement that includes debt reduction needs to be reached to revive economic growth, former Federal Reserve Chairman Alan Greenspan said.

“Unless we remove deep-seated uncertainties, the economy is not going anywhere,” Greenspan said today during a “Bloomberg Surveillance” television interview with Sara Eisen in Washington. The economy will “stay this way unless we remove a lot of the uncertainty.”

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, to be released today 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.

“The most fundamental issue that needs to be addressed is getting the budget under control,” Greenspan said.


© Copyright 2015 Bloomberg News. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

FBI Arrests Russian Spy Posing as Banker in NYC

Monday, 26 Jan 2015 15:12 PM

FBI agents arrested an alleged Russian spy in New York City Monday on charges of trying to collect economic intelligence . . .

Top Spy at CIA Stepping Down

Monday, 26 Jan 2015 15:12 PM

 . . .

Lance Armstrong: Doping a 'Bad Decision,' But I'd 'Do It Again'

Monday, 26 Jan 2015 15:09 PM

Banned cyclist Lance Armstrong says he would not have needed to resort to doping in the sport's current era and what hap . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved