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Canada Goose online DARYN KAGAN, CNN ANCHOR: Federal Reserve Chairman Alan Greenspan uk canada goose outlet appears today before the Senate Budget Committee, and he’s doing that as we speak. As Canada Goose Coats On Sale anticipated, he endorsed the notion of a tax cut. Canada Goose online

canada goose GREENSPAN: In today’s context, where canada goose clearance tax reduction appears required in any event over the next several years to assist in forestalling the accumulation of private canada goose coats assets, canadian goose jacket starting that process sooner rather than later likely would help smooth the transition to longer term fiscal balance. canada goose

canada goose clearance sale And should current economic weakness spread beyond what now appears likely, having a tax cut in place may, in buy canada goose jacket cheap fact, do noticeable good. canada goose clearance sale

canada goose coats KAGAN: But was it as big of a tax cut as President Bush is canada goose black friday sale looking for? canada goose coats

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canadian goose jacket PETER VILES, CNN CORRESPONDENT: Yes, I can hear you, Daryn. canadian goose jacket

canada goose clearance KAGAN: Just wondering that was not an endorsement, but was that as big of an endorsement that President Bush was looking for in terms of the size of the canada goose clearance sale tax cut that Alan Greenspan would think would be a good idea? canada goose clearance

VILES: Well, Greenspan didn’t get into any numbers about what thinks is appropriate; and he was asked specifically after his testimony: Does what does he think of President Bush’s tax Canada Goose sale cut plan? Which we should add has not been proposed, so Canada Goose online we don’t really know what that Bush tax cut plan is.

Canada Goose sale The chairman said, in any event, it would be inappropriate for him to comment; that’s a political decision. But he did give a new argument to a tax cut that we haven’t heard before cheap canada goose uk a significant new argument because it comes from the most influential economist in the country which is canada goose uk black friday that paying off all buy canada goose jacket the federal debt as fast as you can is not the best policy because canada goose store you end up six or eight or 10 years from now in a position where the government has a huge surplus and nothing to do with it; which is a bad situation, he says, economically. Canada Goose sale

cheap Canada Goose So the smart thing to do is start canada goose homme black friday cutting taxes canada goose factory sale before that happens. He said sooner rather than later; Canada Goose Outlet he said you should phase in a tax cut. But he said we have enough money to do it the United States has enough money to do it which is a significant change from what he said in the past, which is, the canada goose uk outlet first thing you should do with a surplus is pay down debt. cheap Canada Goose

So this is a significant shift from canada goose the Fed chairman. Didn’t explicitly endorse the president’s tax cut, but I don’t think anyone expected an explicit endorsement Canada Goose Online for a tax cut that really doesn’t even exist yet.

Canada Goose Parka KAGAN: So, really, the chairman’s saying something that kind of goes against our basic instincts when it comes to economics that debt at least some is not necessarily that bad of a thing? Canada Goose Parka

Canada Goose Outlet VILES: Sure well, it’s not bad. He said a year ago, we ought to pay down this uk canada goose debt as fast as we can because he canada goose uk shop said it never occurred to him that, realistically speaking, we Canada Goose Jackets would get to a point where we’re going to pay Canada https://www.goosefrshop.com Goose Parka off all the debt. Canada Goose Outlet

canada goose store When you get to that point, you have to start thinking, what’s the government going do with a surplus when it doesn’t have any debt? It has to put the money somewhere; there’s great pressure on the government oh, you ought to invest in this, you ought to invest in that. canada goose store

That’s a bad situation that the federal government should not be in with money to put into private investments. And Greenspan is saying we shouldn’t get anywhere near that situation we should be on a glide path, where the deficit the debt goes away canada goose coats on sale and the surplus goes away at the same time.

canada goose deals KAGAN: Meanwhile, the Fed meets next week and they plan to talk interest rates and, perhaps, a cut there was that surprise at the beginning of the month. canada goose deals

Canada Goose Jackets Did the chairman give any clues as to will there be anything to follow that with at the end of the month? Canada Goose Jackets

canada goose black friday sale VILES: No clues here today on the size of that interest rate cut, but Wall Street and the bond markets are banking on an interest rate cut probably another half a percentage point, although some cheap Canada Goose feel it will be a quarter of a percentage point. canada goose black friday sale

buy canada goose jacket Didn’t give any real insight into what that number will be. And the best determinate there will be what the numbers show us in the next week of the health of the economy. There have been some signs that maybe the economy’s not all that slow. Other signs more layoffs today Sara Lee, for example buy canada goose jacket.

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