Tags: alan greenspan | budget | economic | growth

Greenspan: Budget Solution Key to Reviving Economic Growth

Friday, 19 Apr 2013 08:15 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 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.

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An update of the plan, to be 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.

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

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A U.S. budget agreement that includes debt reduction needs to be reached to revive economic growth, former Federal Reserve Chairman Alan Greenspan said.
alan greenspan,budget,economic,growth
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2013-15-19
Friday, 19 Apr 2013 08:15 AM
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