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Greenspan Warns US Must Address Debt, Deficit
June 18, 2010
Wall Street Journal
Op-ed, former Federal Reserve Chairman Alan Greenspan says lawmakers need to understand that the US' ability to borrow is limited despite the record surge in Federal debt. Greenspan says interest rates have remained low, which he says is the result of deflationary slack in the economy, but will at some point have to rise significantly. Greenspan calls on Congress and the President to make the difficult political choices needed to return to a disciplined budget process that reduces the need for deficit spending.
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