US 'debt free' by 2030 - Alan Greenspan

Testifying on Mar 2, 2001 before the Committee on the Budget of the US House of Representatives, Fed chairman, Alan Greenspan, outlined the implications of the US goverment's extraordinaryly healthy fiscal position. Federal estimates now predict that the US will be running a budget surplus of $800bn a year by 2010.

Long-term estimates forsee the US paying off all sovereign debt by 2030, after which the federal government would start "to accumulate large quantities of private (more technicall