Greenspan surprises with support for tax cuts

Federal Reserve Board Chairman Alan Greenspan delivered some surprising support for President George W. Bush's call for a $1.6 trillion tax cut, saying tax cuts will benefit the economy in the long run."In today's context, where tax reduction appears required in any event over the next several years..., starting that process sooner rather than later likely would help smooth the transition to longer-term fiscal balance," Mr. Greenspan said in remarks before the Senate Budget Committee.

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