Greenspan testimony questions stimulus for economy

Federal Reserve Chairman Alan Greenspan said on Tuesday that uncertainties over a possible war with Iraq posed "formidable barriers" to business spending and made it tough to gauge the U.S. economy's health.

In remarks that seemed to strike at Bush administration plans for a $695 billion package of tax cuts, Greenspan urged budget discipline and said until what ailed the economy was clearer, it was "premature" to prescribe fiscal stimulus.

"The heightening of geopolitical tensions has only adde

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