Greenspan Renews Warning on Budget Deficits

Watch out for more taxes in future (Repugs = more taxes)
http://www.washingtonpost.com/wp-dyn/articles/A6620-2005Apr21.html
By Nell Henderson
Washington Post Staff Writer
Thursday, April 21, 2005; 3:06 PM

Federal Reserve Chairman Alan Greenspan said today that his support for tax cuts in early 2001 unintentionally encouraged policies that helped swing the federal budget from surplus to record deficits. In addition, he said for the first time explicitly that he expected tax increases to be part of any bipartisan agreement on deficit reduction.

But Greenspan, responding to questions during a Senate Budget Committee hearing today, said it was unfair for critics to ignore the warnings in his January 2001 congressional testimony that the surplus forecasts might be wrong, and his recommendation of some "trigger" mechanism that would limit tax cuts if certain budget targets were not met....
(edited to add URL)

which may or may not be the lamest ever, is that these deficit warnings by Greenspan are laying the foundation for massive spending cuts on, you guessed it, social programs.

which is the foundation of the deficits.

What a hack that guy is. Complete hack