Greenspan Says Congress Should Let Bush Tax Cuts Expire

Former Federal Reserve Chairman Alan Greenspan said Congress should let the Bush-era tax cuts expire at the end of this year in order to boost revenue and narrow the federal deficit.

"They should follow the law and let them lapse," Greenspan said in an interview with Bloomberg Television.

Greenspan, 84, also said that the U.S. economy is in "a temporary slump" and would post "sluggish" growth of 3% in the second half of the year. He said that the recent financial reform bill would reduce credit available to low-income borrowers.


Read Full Story

Can't get enough personal finance tips?

Sign up for Finance Report by AOL and get everything from consumer news to money tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.