Greenspan On The Cliff: "Recession Is Guaranteed"

Dec 1, 2012 at 9:33 AM
DailyBail in Debt & Deficit, Fiscal Cliff, Taxes, alan greenspan, alan greenspan, bloomberg, debt, debt ceiling, deficit, entitlements, fiscal cliff, government spending, spending cuts, taxes, video

Take the deal!

Short excerpt from Greenspan's interview Nov. 16 with Bloomberg's Betty Liu.

I'm still a skeptic.  The spending cuts agreed upon will not be significant.  Greenspan recommends means testing entitlement programs, which is the fairest way to make large cuts.  The poor and middle class are not affected, and the wealthy give up their benefits in exchange for a tax deduction.

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Here's the full interview.

Greenspan on Fiscal Cliff, Taxes, Deficit

Nov. 16 (Bloomberg) -- Former U.S. Federal Reserve Chairman Alan Greenspan talks about the outlook for the U.S. economy, markets and a resolution to the fiscal cliff.

Article originally appeared on The Daily Bail (http://dailybail.com/).