Greenspan Throws Cold Water on Economic Case for GOP's Tax Plan

Former Federal Reserve Chairman Alan Greenspan doesn’t sound like a big fan of the Republicans’ proposed tax plan.

“What we ought to be concerned about is the fact that the federal debt is rising at a very rapid pace and there’s nothing in this bill to essentially stop that from happening,” Greenspan, 91, said in an interview Thursday on Fox Business Network. “Economically it’s a mistake to deal with sharp reductions in taxes now.”