Alan Greenspan Says Economy Will Start to Fade ‘Very Dramatically’ Because of Entitlement Burden
By News
Published 5 years ago on
April 16, 2019
Share
[aggregation-styles]
CNBC
CNBC
Alan Greenspan Says Economy Will Start to Fade ‘Very Dramatically’ Because of Entitlement Burden
Economic growth won’t last as the U.S. labors under the burden of growing entitlement programs and weakness around the world, former Federal Reserve Chairman Alan Greenspan told CNBC.
The long-time central bank chief repeated his warnings about the weight that Social Security, Medicare and other programs are having on what have been otherwise solid gains over the past few years.
“I think the real problem is over the long run, we’ve got this significant continued drain coming from entitlements, which are basically draining capital investment dollar for dollar,” he told CNBC’s Sara Eisen during a “Squawk on the Street ” interview.
The long-time central bank chief repeated his warnings about the weight that Social Security, Medicare and other programs are having on what have been otherwise solid gains over the past few years.
“I think the real problem is over the long run, we’ve got this significant continued drain coming from entitlements, which are basically draining capital investment dollar for dollar,” he told CNBC’s Sara Eisen during a “Squawk on the Street ” interview.
By Jeff Cox | 12 April 2019
RELATED TOPICS:
New Battlegrounds Emerge in California’s Political Guerrilla War Over Housing
Housing /
3 hours ago
United Methodists Repeal Longstanding Ban on LGBTQ Clergy
Religion /
4 hours ago
US Job Openings Dip to Lowest Level in More Than 3 Years
Economy /
4 hours ago
Biden’s Historic Marijuana Shift Is His Latest Election Year Move for Young Voters
Cannabis /
5 hours ago
Federal Reserve Says Interest Rates Will Stay at Two-Decade High Until Inflation Further Cools
WASHINGTON — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’t pl...
Economy /
10 mins ago
Categories
Latest
Videos
Economy /
10 mins ago
Federal Reserve Says Interest Rates Will Stay at Two-Decade High Until Inflation Further Cools
Politics /
20 mins ago
House Passes Bill Expanding Antisemitism Definition Amid Campus Protests Over Gaza War
Business /
1 hour ago
Trump Awarded 36 Million More Trump Media Shares Worth $1.8 Billion
Housing /
3 hours ago
New Battlegrounds Emerge in California’s Political Guerrilla War Over Housing
Latest /
1 day ago