Greenspan at ease with huge tax cut 5

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--> --> Greenspan at ease with huge tax cut WASHINGTON (AP) - Federal Reserve Chairman Alan Greenspan said today he's not worried that the newly enacted $1.35 trillion tax cut will plunge the federal budget into a deficit as productivity growth slows. "I'm not, senator," Greenspan replied when asked by Sen. Charles Schumer, D-N.Y., at a Senate Banking Committee hearing whether he was concerned about a potential slide back into government deficit spending. Greenspan also acknowledged that the recent tide of job layoffs - which has pushed new claims for state unemployment insurance to more than 400,000 a week - "has got to be a factor in determining the propensity of people to spend money" and affects consumers' confidence. However, he added, there hasn't been "any real serious deterioration" in spending by consumers, a more important benchmark than how confident they feel. Email your... Technical questions & comments to: WebMaster Daily Tidings editorial comments & questions to: Editor Visit our other Oregon Newspapers... | Albany Democrat-Herald | Ashland Daily Tidings | Corvallis Gazette-Times | | Lebanon Express | Newport News-Times | Springfield News | Cottage Grove Sentinel | Ashland Daily Tidings 1661 Siskiyou Blvd. Ashland, OR 97520 Telephone 541-482-3456 © Copyright 2001 Lee Northwest Publishing