Las Vegas Sun

March 29, 2024

Greenspan optimistic

WASHINGTON -- Federal Reserve Chairman Alan Greenspan said today he remained hopeful the end of the Iraq war will result in stronger economic growth and repeated his opposition to substantial tax cuts that would run up a larger deficit.

Greenspan said he continued to believe that the centerpiece of President Bush's tax plan, eliminating the double-taxation of stock dividends, would have long-term advantages for the economy.

But Greenspan also said that in light of rising federal budget deficits, he continued to believe that any further tax cuts need to be offset either with cuts in government spending or tax increases in other areas to keep the deficit from soaring.

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