Greenspan Says McCain Tax Plan Needs Corresponding Budget Cuts
“Paul Volcker, Greenspan’s predecessor as Fed chairman, has endorsed Obama, a first-term U.S. senator from Illinois, in the presidential election, and is serving as an economic adviser to the candidate.”
Greenspan said the widening income disparity among Americans is a “very serious” issue, and requires both raising the pay of lower-income workers and reducing higher incomes. “The best way of doing that is to remove what is essentially protectionism for those skilled workers in the United States who are helped by keeping out their competition,” he said, referring to the issue of “skilled immigration.”