CNBC: Greenspan Called Government Debt Or Spawned Debt Crisis.
Beijing time November 15th morning CNBC November 15th Headlines Published article Greenspan Government debt or expedited debt crisis The full text is summarized as follows:
Greenspan, former Federal Reserve Chairman, said on Sunday that the US government must take effective actions to control the rising trend of its huge budget deficit, otherwise the US economy could be hit by a crisis of bond market. Speaking of the rising debt levels of the United States, Greenspan said: "we must take action to solve this problem."
According to the plan, the investigation team of the US government will publish the latest research report on government debt and budget deficit by December 1st this year. According to a draft report released last week, the group proposed that the US government adopt strict tax measures and spending cuts to improve the financial situation of the US government, so as to achieve the goal of reducing the debt by 4 trillion US dollars by 2020. But for the current situation, the reaction triggered by the plan in the US government and the US Congress is more complicated. Nancy Pelosi, a spokesman for the US House of Representatives, has publicly stated that the plan is totally unacceptable. But Greenspan believes the plan will eventually be approved by the US Congress.
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