State of the Economy
Committee members heard testimony from Chairman Greenspan on the state of the U.S. economy. Greenspan testified about economic performance o… read more
Committee members heard testimony from Chairman Greenspan on the state of the U.S. economy. Greenspan testified about economic performance over the past year and budgetary challenges facing Congress. He warned that 1998 economic performance could very well be worse than 1997 for various reasons, including the economic problems in Asia. He also warned against unwarranted new spending programs and stressed the need to deal with the impact of coming demographic changes to federal entitlement programs such as Social Security before the problems in these programs become unmanageable. close
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