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Monday, September 27, 2010

Greenspan on the W Tax Cuts

Sept. 27th, 2010

Alan Greenspan argues that we should let them lapse.

"And I must say that the Republicans, I think, have been cutting taxes with borrowed money, and the Democrats have been spending with borrowed money. They agree only on the borrowed money."


A lot of folks are pretty stunned by this. It would be wise to remember that he had come to some very different views on budgets from his Reagan days as long as a decade ago. Along with David Stockman, the abandonment of supply-side theory is almost total.


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