Connect with us

archive

Greenspan, Yellow Light:

In the Senate Banking Committee this week, Federal Reserve Chairman Alan Greenspan flashed a yellow light for PRAs. “So if you’re going to move to private accounts, which I approve of, I think you have to do it in a cautious, gradual way,” said Greenspan. His primary concern: increasing the deficit.

Senate Banking Chairman Richard Shelby (R.-Ala.) asked, “Could we create the personal accounts without any substantial borrowing for the transition? And if so, how?” Greenspan responded: “Obviously, if you raise taxes, you could.” Then Shelby asked, “What about cutting benefits? One of those two.” To which Greenspan said: “You could certainly do it that way, too.” What Shelby did not ask: Can’t we do it by cutting unnecessary and unconstitutional federal spending?

Newsletter Signup.

Sign up to the Human Events newsletter

Written By

Click to comment

Leave a Reply

Your email address will not be published.

Advertisement
Advertisement

TRENDING NOW:

Duke Prof: Islam Has ‘Clear Emphasis on the Sanctity and Dignity of Human Life’

FOREIGN AFFAIRS

Willem van Sprouse Antifa Willem van Sprouse Antifa

ICE Detention Center Attacker Was Antifa Activist.

U.S. POLITICS

Justin Trudeau Justin Trudeau

How Justin Trudeau Is Pushing Canada Further Right

FOREIGN AFFAIRS

Beto Is Using His Slave-Owning Ancestry.

U.S. POLITICS

Connect
Newsletter Signup.

Sign up to the Human Events newsletter