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Alan Greenspan: I'm In Favor Of Raising Taxes 'For The First Time In My Memory'

First Posted: 11/16/10 05:12 AM ET Updated: 05/25/11 06:40 PM ET

Greenspan Taxes

Yahoo! News:

Reversing a long-standing aversion to tax increases, Greenspan warned of "very grave problems ahead" if the budget deficit, swollen to around $1 trillion by massive amounts of stimulus spending, is not tackled soon.

"I am in favor for the first time in my memory of raising taxes," Greenspan told an audience at the Council on Foreign Relations in New York.

Read the whole story: Yahoo! News

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Filed by Ryan McCarthy  |