01/26/01 02:05 PM: Greenspan and the Tax Cut

Greenspan and the Tax Cut

So Fed Chairman Alan Greenspan is leaning towards supporting a tax cut, and paying off the debt. He says that “Should current economic weakness spread beyond what now appears likely, having a tax cut in place may, in fact, do noticeable good.” He feels that a tax cut and debt reduction can be achieved at the same time. If this can happen, then I for one support a tax cut. However, all can agree that Bush’s immediate large scale tax cut would not allow for that, and it will have to be scaled back. But from what we have seen from Bush, I doubt he will be scaling anything back at all. I will have more on this later on, I have places to go for now.

Dave Stroup