Posted on 07/30/2015 12:40:15 AM PDT by SaveFerris
While markets hone in on the Federal Reserve's monetary policy hints, former Fed Chairman Alan Greenspan sees a bigger economic irritant—government spending.
On Wednesday, Greenspan decried a rise in entitlement costs, which he contended have pressured the U.S. economy.
"To me the discussion today shouldn't even be on monetary policy it should be on how do we constrain this extraordinary rise in entitlements," he said in a CNBC "Closing Bell" interview, calling the trend "extremely dangerous."
Social expenditures in the U.S. were 19.2 percent of gross domestic product last year, up from 15.5 percent in 2005, according to data from the Organization for Economic Cooperation and Development.
....
However, he noted that he sees a "strong and growing labor market" despite concerns about productivity growth.
(Excerpt) Read more at cnbc.com ...
OK comrades, the Uniparty designated spokesman hath declared.
Now back to that every-increasing good economy.
Oh, and the Kardashians.
The “Progressives”(?) buying of votes through entitlements is driving our nation to a class/race war and they won’t be able to control it as they think they can.
We can all thank scumbag obomanus and the democrats for this.
They’ll just keep crippling the USA economically, socially and militarily.
All part of the plan it seems.
What were social expenditures in 1975, 1985 and 1995? It would be interesting to see the comparisons.
Since you brought them up - I think (and pray) the Kardashians have finally jumped the shark.
It seems to me the discussion ought to be about how do we create enough new private sector jobs in America to support entitlements. And the answer seems to be to vote for Donald Trump, the only guy even talking about creating jobs.
Let us hope so. The damage they have done with their trash is terrible.
And his bailout of the 1st Hedge Fund crash helped us how? Move right along here the Emperor has no clothes...
Mr Andrea Mitchell speaks, will anyone listen?
I was gonna call him the same thing, lol.
Every other factory next to mine has a ‘Help Wanted’ sign up, and my company has hired maybe 20 people in the past 4 months. But what do I know, I live outside of Detroit.
Yeah, he has no credibility.
... and more than a few RINOs.
Isn’t he married to Andrea Mitchell? Who in the hell should listen to him? He helped cause all this.
Talking about government creating jobs is folly. Reduce taxes, government, and reduce regulations on business, jobs will pop up everywhere. Government only creates heartache and dependant peoples.
Michigan is still the best place to manufacture anything owing to the skill set of the workforce.
I recall first hearing about deep concern over government spending and deficits around 1966 when I was 15. It seemed to be the #3 daily topic after Vietnam Nam and racial unrest.
We got out of VN and, until Obunghole, racial,unrest was under control.
But government has done nothing to govern responsibly in all those years.
The government is capable of promoting private sector job growth. promoting is not creating.
The only way this nation will ever become fiscally sound again is to end illegal immigration and stop legal immigration that is not needed in the economy, then correct the one-sided trade arrangements, and have welfare to work in an economy where jobs are actually available, and where wages are not intentionally driven down by immigration policies.
Other stats show that one in five US heads of household are on one or more means tested poverty programs.
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