Alan Greenspan: Extending Bush Tax Cuts Without Paying For Them Could Be 'Disastrous'

[babsbunny]

Alan Greenspan: Extending Bush Tax Cuts Without Paying For Them Could Be 'Disastrous'

http://www.huffingtonpost.com/2010/08/01/alan-greenspan-extending_n_666549.html

Former Fed Chairman Alan Greenspan said that the push by congressional Republicans to extend the Bush tax cuts without offsetting the costs elsewhere could end up being "disastrous" for the economy.

In an interview on NBC's "Meet the Press," Greenspan expressed his disagreement with the conservative argument that tax cuts essentially pay for themselves by generating revenue and productivity among recipients.

"They do not," said Greenspan.

[Warren Stupidity]

1. Why is the Architect of the Great Recession still pontificating?

Do we have two Heads of the Feds?

[Taitertots]

3. I wonder about that too

For all intensive purposes there is no way he could have thought the path he put us on could do anything other than destroy the economy. So for all intensive purposes he knowingly caused the Depression.

[upi402]

4. For all intents and purposes Greenspan destroyed America

And his MSNBC TV news propagandist wife, Andrea Mitchell, is still yapping too.

[Taitertots]

5. I need to start taking more time to reread my posts and not rely on spell check

For all intents and purposes Greenspan destroyed the economy.

[Oregone]

2. Well now, here is a man familiar with disaster

[housewolf]

6. Is this a case of the dying man getting religion?

Never thought I'd see words like that from Greenspan's mouth. Wish he'd started acknowledging that about 10 years ago...

[pnwmom]

15. Sure is. n/t

[hankthecrank]

7. Don't talk like that alan or the gop won't invite you to their parties

[pnwmom]

13. Yes they will! Because they know, from experience, that Greenspan will do a 180

when the Rethugs are back into office.

[stray cat]

8. i agree with him

[DCBob]

9. Greenspan must think he is nearing death.. so he is repenting for his economic sins of the past.

I do agree with him totally on this one.

[Cleita]

10. Alan Greenspan also thinks that cheap labor is

a good thing when immigrants bring down the wage by becoming scab labor and working outside the unions. It's time for that financial troll to retire.

[randr]

11. The fact is, we have all been paying for the Bush tax cuts for the last 8 years

Where else do you think all the money went?

[pnwmom]

14. You should call them the "Bush/Greenspan tax cuts" because Greenspan endorsed

them during Bush's presidency -- even though we didn't have the funds to pay for them then either.

[pnwmom]

12. But the same exact tax cuts were just fine during the Bush administration,

when we also had no funds for paying for them.

Greenspan's only worried about deficits when the Dems are in charge.