Friday, May 27, 2005

Jack Markell on Alan Greenspan

Delaware Treasurer Jack Markell reports on a session with his fellow state treasurers and Alan Greenspan earlier this week:
He [Greenspan] answered “I don’t think so” when asked whether our children and grandchildren will be able to afford to pay off the huge national debt they will be inheriting.
Repayment of interest on the national debt will be a major share of GDP for our children and grandchildren.

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