It Must Be Real
On today’s All Things Considered they had two segments on deflation.
First they had a background piece. Examining The Risks Of Deflation and then an interview with St. Louis Federal Reserve Bank President James Bullard, who sees deflation as a very real possibility.
Raw Story reports on former Federal Reserve Chairman Alan Greenspan’s appearance on Meet the Press:
“I am very much in favor of tax cuts but not with borrowed money,” Greenspan said during an appearance on NBC.
“The problem that we’ve gotten into in recent years is that spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous and my view is I don’t think we can play subtle policy here,” said Greenspan.
“You don’t agree with Republican leaders who say tax cuts pay for themselves?” asked NBC’s David Gregory.
“They do not,” Greenspan replied firmly.
The only problem with Social Security is that its surplus was used for the Bush tax cuts.
