Fropm the pages of TIME magazine:
"Alan Greenspan says the country can't afford tax cuts of the magnitude proposed by Republican presidential contender John McCain at least not without a corresponding reduction in government spending.
"Unless we cut spending, no," the former Federal Reserve chairman said Friday when asked about McCain's proposed tax cuts, pegged in some estimates at $3.3 trillion.
"I'm not in favor of financing tax cuts with borrowed money," Greenspan said during an interview with Bloomberg Television. "I always have tied tax cuts to spending."
McCain has said that he would offset his proposed cuts including reducing the corporate tax rate and eliminating the Alternative Minimum Tax that has plagued middle-class families by ending congressional pork-barrel spending, unnecessary government programs and overhauling entitlement programs such as Medicare and Social Security."
Let's cut the pension benefits that Americans PAID their whole working lives for...
Let's cut the health plan of last report... because private sector health insurers are allowed to refuse coverage to the elderly...
Let's CUT corporate tax - which would means more Shareholders would take more dividends, RATHER than invest that money in growth.
And let's all pretend we can pony up a $700 billion bailout AND lower federal revenue...
ANYTHING BUT CUTTING THE SPENDING ON KILLING THE WRONG PEOPLE IN THE WRONG COUNTRY!
GOd but republicans are dumb... unable to lean form mistakes...
Lets BORROW MORE MONEY to fund a tax cut... duh.
What an old fool.
"Alan Greenspan says the country can't afford tax cuts of the magnitude proposed by Republican presidential contender John McCain at least not without a corresponding reduction in government spending.
"Unless we cut spending, no," the former Federal Reserve chairman said Friday when asked about McCain's proposed tax cuts, pegged in some estimates at $3.3 trillion.
"I'm not in favor of financing tax cuts with borrowed money," Greenspan said during an interview with Bloomberg Television. "I always have tied tax cuts to spending."
McCain has said that he would offset his proposed cuts including reducing the corporate tax rate and eliminating the Alternative Minimum Tax that has plagued middle-class families by ending congressional pork-barrel spending, unnecessary government programs and overhauling entitlement programs such as Medicare and Social Security."
Let's cut the pension benefits that Americans PAID their whole working lives for...
Let's cut the health plan of last report... because private sector health insurers are allowed to refuse coverage to the elderly...
Let's CUT corporate tax - which would means more Shareholders would take more dividends, RATHER than invest that money in growth.
And let's all pretend we can pony up a $700 billion bailout AND lower federal revenue...
ANYTHING BUT CUTTING THE SPENDING ON KILLING THE WRONG PEOPLE IN THE WRONG COUNTRY!
GOd but republicans are dumb... unable to lean form mistakes...
Lets BORROW MORE MONEY to fund a tax cut... duh.
What an old fool.