Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Please Add "No Sh*t Sherlock" or NSS to Zeev's Shortcuts

WASHINGTON, Feb 11 (Reuters) - Federal Reserve Chairman Alan Greenspan said on Wednesday the problem with the U.S. budget was on the spending side, and that this should be addressed since it was unclear what impact tax hikes would have on economic activity. "The longer-term problem is on the expenditure side, and that's a fact in the sense that you cannot, without looking at the data, see that we have very considerable difficulty in meeting the long-term projections for the commitments we have made without a significant increase in tax rates," Greenspan said in response to a question from the House of Representatives Financial Services Committee.