Alan Greenspan Deficits Quotations

The changes in the budget outlook over the past several years are truly remarkable, ... We need to resist those policies that could readily resurrect the deficits of the past and the fiscal imbalances that followed in their wake.

Lower budget deficits are the surest and most direct way to increase national saving. Higher national saving would help to lower real interest rates, spurring spending on capital goods so as to put cutting-edge technology in the hands of more American workers,

Large deficits will result in rising interest rates and an ever-growing ratio of debt service to GDP (gross domestic product),

is on an unsustainable path, in which large deficits result in rising interest rates and ever-growing interest payments that augment deficits in future years.

Faster economic growth, doubtless, would make deficits far easier to contain. But faster economic growth alone is not likely to be the full solution to currently projected long-term deficits.

There is a limit to how long and how far deficits can be sustained,