Greenspan – Very Dangerous Possibilities of Extending Bush Tax Cuts

[Huckleberry]

Interesting interview w/ Greenspan by PBS.

My real question is, WHAT ARE the very dangerous possibilities Greenspan sees in our future by enacting this legislation?

I don’t actually see revolution within the next 10-20 yrs. (but I have been wrong before). Now, loss of reserve currency, much lower living standards, exceptionally high unemployed and depression, are all definite possibilities in my mind…

What are the Piggs thoughts?

http://www.pbs.org/newshour/bb/business/july-dec10/greenspan_09-24.html

[sdduuuude]

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.

[sdduuuude]

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.

[sdduuuude]

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.

[sdduuuude]

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.

[sdduuuude]

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.

[NotCranky]

For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.

[NotCranky]

For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.

[NotCranky]

For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.

[NotCranky]

For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.

[NotCranky]

For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.

[sdduuuude]

Yes – we are playing “Let’s Make a Deal” and a goat waits behind each of the three doors. There is no “Brand New Car !”

[sdduuuude]

Yes – we are playing “Let’s Make a Deal” and a goat waits behind each of the three doors. There is no “Brand New Car !”

[sdduuuude]

Yes – we are playing “Let’s Make a Deal” and a goat waits behind each of the three doors. There is no “Brand New Car !”

[sdduuuude]

Yes – we are playing “Let’s Make a Deal” and a goat waits behind each of the three doors. There is no “Brand New Car !”

[Author]

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