Greenspan Says Economy Stalled Without Budget Deal

The U.S. economy “is going nowhere” until a budget agreement is reached that includes debt reduction to revive sustainable growth, former Federal Reserve Chairman Alan Greenspan said.

“Unless we remove some of the deep-seated uncertainty, especially for investments in very long-lived assets,” growth will remain under 2 percent, Greenspan said today during a “Bloomberg Surveillance” television interview with Sara Eisen in Washington.