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Argument: Bush tax cuts are wrongheadedly on borrowed money

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Former Fed Chairman Alan Greenspan said on Sunday's Meet the Press that extending the Bush tax cuts without offsetting the costs elsewhere could end up being "disastrous" for the economy. "I'm very much in favor of tax cuts but not with borrowed money and the problem that we have gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money."[1]

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