Greenspan Calls for Tighter Credit, Higher Taxes

Former Federal Reserve Chairman Alan Greenspan has been in the news a lot for a retired man. Today he said that in order to beat the recession, the US would need to tighten credit to avoid inflation, while simultaneously increasing taxes to deal with the budget deficit.

“The presumption that we’re going to be able to resolve this without significant increases in taxes is unrealistic,” Greenspan, 83, said in an interview with Bloomberg Television yesterday.

Bloomberg

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