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Greenspan testimony to the Senate Banking Committee
CNBC
| Feb. 12, 2004
Posted on 02/12/2004 8:15:55 AM PST by ReleaseTheHounds
Alan Greenspan is making a spirited call for restraint in expenditures as the KEY focus in addressing the budget deficit. He has clearly called for addressing the spending side before considering reversing the tax-cuts. He is also calling for reforms to Social Security and Medicare to ensure that promised benefits will be there.
TOPICS: Business/Economy; Culture/Society; Government; News/Current Events; Philosophy; Politics/Elections
KEYWORDS: expenditures; greenspan; revenues; spending; taxcuts
To: ReleaseTheHounds
Paging Tim russert
To: Lance Romance
And Andrea Mitchell!
To: ReleaseTheHounds
I like Allard (R-CO) question that pretty much went "Please absolve me of any guilt for watching manufacturing jobs go overseas" to which Alan avoided it by saying that US productivity is going up, its not just offshoring. Well productivity is defined as revenue per US employee, which naturally shoots up when you move manufacturing offshore.
And just down Evan Byan (D-IN) asked a good question: 40% of our debt (or some percent of GDP) is owned by foreign entities. Alan's trying to say that's because people want to invest here.
4
posted on
02/12/2004 8:49:11 AM PST
by
lelio
To: lelio
Now Alan's blaming our "education problem" for our knowledge based jobs going overseas.
5
posted on
02/12/2004 9:08:38 AM PST
by
lelio
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