Democratic Underground - Fed Chairman Greenspan Warns of Budget Deficit

Fed Chairman Greenspan Warns of Budget Deficit [View All]

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Wed Feb-11-04 06:12 PM
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Fed Chairman Greenspan Warns of Budget Deficit

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http://story.news.yahoo.com/news?tmpl=story&ncid=716&e=6&u=/ap/20040211/ap_on_bi_ge/greenspan

WASHINGTON - Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) said Wednesday the economy had been showing "impressive gains," even as he warned that mushrooming federal budget deficits could derail the progress. snip

He tempered his optimism with a dose of caution about the dangers of budget deficits.

Last week, the Bush administration projected that this year's deficit will reach a record $521 billion.

"Federal budget deficits could cause difficulties even in the relatively near term," Greenspan told the House Financial Services Committee.

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Fed Chairman Greenspan Warns of Budget Deficit [View All]