Alan Greenspan Warns Rising Entitlements ‘Extremely Dangerous’ for Economy

While markets hone in on the Federal Reserve’s monetary policy hints, former Fed Chairman Alan Greenspan sees a bigger economic irritant—government spending.

On Wednesday, Greenspan decried a rise in entitlement costs, which he contended have pressured the U.S. economy.

“To me the discussion today shouldn’t even be on monetary policy it should be on how do we constrain this extraordinary rise in entitlements,” he said in a CNBC “Closing Bell” interview, calling the trend “extremely dangerous.”

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