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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: russwinter who wrote (24697)3/2/2005 10:48:20 AM
From: mishedlo   of 116555
 
Greenspan says ´major´ deficit cutting are necessary
Wednesday, March 2, 2005 3:24:33 PM
afxpress.com

Greenspan says 'major' deficit cutting are necessary WASHINGTON (AFX) -- Federal Reserve Chairman Alan Greenspan told Congress that the U.S. fiscal budget is unlikely to improve in coming years "unless major deficit-reducing actions are taken." He called for a major overhaul of Congressional budget laws, including renewing rules to offset any spending or tax cuts by cutting spending elsewhere. Greenspan repeated his support for private retirement accounts to bolster Social Security. He said that Congress should tackle Social Security "sooner rather than later."
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