Greenspan Concerned About Deficit, US "Fiscal Instability"...

Associated Press MARTIN CRUTSINGER December 2, 2005 at 11:58 AM
Federal Reserve Chairman Alan Greenspan expressed concerns Friday that America's failure to deal with its exploding budget defict and worldwide efforts to erect trade barriers could disrupt the global economy.

Speaking at an economic conference in London, Greenspan said so far the United States has had no problem financing its current account trade deficit, which last year hit a record $668 billion, because of the flexibility of the American economy.

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