I agree – it is a decision between “terrible and catistrophic” though I’m not sure which is which.
I also agree that the spending side is the side to focus on. Ideally, spending would be cut enough that we could keep the tax credits in place AND stop borrowing. One can dream.
I’m not sure why Greenspan says we need to cut spending instead of taxes. It should really be the same thing, but since we are borrowing so much, I guess he is saying we should stop borrowing and raise taxes.
This is not screaming “bull housing market” to me.
