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Budget Gap Means Extending Tax Cuts a Bad Idea, Greenspan Says

It’s more important for the U.S. to cut its budget deficit than to extend tax cuts currently set to expire at the end of this year, former Federal Reserve Governor Alan Greenspan said in an interview on PBS.

“The budget deficit problem, I believe, is far more dangerous than most of us contemplate on a day-to-day basis,” Greenspan said in an interview to air on PBS television’s “Newshour.” While low interest rates have made it easy for the government to sell bonds, “assuredly they’re not going to stay here.”