Greenspan: It’s The Entitlements Stupid

Greenspan: It’s The Entitlements Stupid

Al Greenspan has finally concluded what mainstream fiscal conservatives have known for years: entitlement spending is what is driving down the economy. Mr. Greenspan discovered this theory approximately a year ago while mulling over the country’s gross domestic numbers.

“What he found, to his surprise and initial skepticism, was that an increase in entitlements has closely corresponded to a decline in the country’s savings.” His suggestions for Congress moving forward: “reducing entitlements, embracing ‘creative destruction’ by letting facilities with cutting-edge technology displace those with low productivity, and fixing the political system by encouraging bipartisanship.”

Click here to read the full Wall Street Journal article. 

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