Alan Greenspan: Extending Bush Tax Cuts Without Paying For Them Could Be 'Disastrous'

Former Fed Chairman Alan Greenspan said that the push by congressional Republicans to extend the Bush tax cuts without offsetting the costs elsewhere could end up being "disastrous" for the economy. In an interview on NBC's "Meet the Press," Greenspan expressed his disagreement with the conservative argument that tax cuts essentially pay for themselves by generating revenue and productivity among recipients. "They do not," said Greenspan. For more information: http://www.huffingtonpost.com/2010/08/01/alan-greenspan-extending_n_666549.html