Greenspan Won’t Endorse the McCain Tax Plan

[youtube]http://www.youtube.com/watch?v=mIIVsNhdv8U[/youtube]

Yay PAYGO!

Both theAP and Bloomberg report:

Former Federal Reserve Chairman Alan Greenspan said the U.S. can’t afford $3.3 trillion of tax cuts proposed by Republican presidential nominee John McCain without similar reductions in the federal budget.

Greenspan, a lifelong Republican and longtime friend of McCain, said on Bloomberg Television’s “Political Capital With Al Hunt” that “I’m not in favor of financing tax cuts with borrowed money.”

McCain told people in Hew Hampshire that he’d rely pretty heavily on Greenspan’s judgment in managing the nation’s finances (because McCain doesn’t get it) and now his guru has spoken. Too bad McCain didn’t run this plan by Greenspan before releasing it. Nonetheless, I can’t find anything on the wires or You Tube where Greenspan may have been asked the same question about the Obama tax plan on the same program. If he wasn’t do expect him to be asked shortly.