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Article: Greenspan: Country can't afford McCain's tax cuts.(News)

Article from:
Daily Herald (Arlington Heights, IL)
Article date:
September 14, 2008
Copyright

Byline: Associated Press

WASHINGTON Alan Greenspan says the country cant afford tax cuts of the magnitude proposed by Republican presidential contender John McCain at least not without a corresponding reduction in government spending.

"Unless we cut spending, no," the former Federal Reserve chairman said Friday when asked about McCains proposed tax cuts, pegged in some estimates at $3.3 trillion.

"Im not in favor of financing tax cuts with borrowed money," Greenspan said during an interview with Bloomberg Television. "I always have tied tax cuts to spending."

McCain has said he would offset his proposed cuts including reducing the ...

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