Greenspan: Change social safety net
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JACKSON HOLE, Wyo. (CNNfn) - The US government must not promise benefits to aging baby boomers that it cannot afford, because that could mean painful future adjustments to taxes and spending, according to Federal Reserve chairman Alan Greenspan.
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Risks of a recession have increased, but the Federal Reserve must be cautious in supporting the economy because global forces that have kept inflation in check are receding, former Fed Chairman Alan Greenspan said on Monday.
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Wary financial markets will listen for any hint from Federal Reserve Chairman Alan Greenspan on Wednesday that a pause in interest-rate rises may be near while lawmakers try to enlist him in the struggle over Social Security reform.
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WASHINGTON -- Former Federal Reserve chairman Alan Greenspan said allowing more skilled immigrants to work in the United States would help keep the income gap from widening.
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Wary financial markets will listen  for any hint from Federal Reserve Chairman Alan Greenspan on  Wednesday that a pause in interest-rate rises may be near while  lawmakers try to enlist him in the struggle over Social  Security reform.
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"Because we can't forecast crises or events like the stock market crash in 1987 or 9/11, we must be prepared and capable of absorbing shocks"  Former U.S. Federal Reserve Chairman Alan Greenspan said on Friday that U.S. interest rates are low, but that rates are low all over the world. via Scotsman.com
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Federal Reserve Chairman Alan Greenspan has done it again. For at least the fourth time this year, he has touched the electrified third rail of American politics - Social Security.
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Federal Reserve Chairman Alan Greenspan warned Friday that the nation faces &quot;abrupt and painful&quot; choices if policy-makers don&#39;t act soon to head off looming insolvencies in Medicare and Social Security.
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JACKSON HOLE, Wyo.  - Rising pressure on U.S.  finances from an aging population make it vital quickly fix the  social safety net with such steps as raising the age for full  retirement benefits, Federal Reserve Chairman Alan Greenspan  said on Friday.
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Pressing further for a change to the Social Security system, President Bush promised Thursday that seniors would not lose benefits under his plan to allow younger workers to divert
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JACKSON, Wyo. - Federal Reserve Chairman Alan Greenspan said Friday the country will face "abrupt and painful" choices unless Congress acts quickly to trim Social Security and Medicare benefits for the baby boom generation...
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(InfoWorld) - Former Federal Reserve chairman Alan Greenspan is hitting the airwaves promoting his new book, but his comments in recent interviews about the possibility of a recession might be scarier to IT folks than anything in the new tome. Greenspan, who has become a Federal Reserve chairman emeritus of sorts, might be more objective now that he is out of his federal role. He told the Wall Street Journal yesterday that he thought the probability of a recession is "slightly more than a third," up from merely a third, as he put it earlier this year. For IT professionals and CEOs of major software and hardware vendors, the prospect of a recession any time soon is downright daunting, given that memories of the 2001-2002 dot-com bust are still fresh. If housing price declines and the troubles with home mortgage lenders precipitate a longer economic downturn in the next year, the effect could roughly halve the 12-year cycle many economists track for upturns and downturns, some observers noted yesterday. "I'm certainly concerned with the housing downturn," said IT market analyst Jason Sajko, who studies government spending on IT for consulting firm Input. "But I don't see that creating something like what we felt in 2001 and 2002 so soon after then. I don't think we'll see an impact of that magnitude." Sajko and Input do frequent analysis of federal, state, and local spending on IT products and services. A month ago, Input said it was still projecting strong growth in state and local government spending in the United States on IT products and services into 2012, increasing from $43.9 billion in 2007 to $67.2 billion in 2012. That analysis was able to track the impact of the general economy, including the news in the last six months over housing market problems. In a small update to that analysis yesterday, Sajko said that state and local governments are also beginning to use a new catalog of IT vendors and prices called Schedule 70 provided by the U.S. General Services Administration. The GSA provides the catalog as a resource to thousands of state and local IT purchasing managers, Sajko explained. For Schedule 70, growth in IT spending among local and state governments will increase nearly 25 percent a year to 2012, exceeding $1 billion. While $1 billion is a small portion of the total spending in that category, it shows primarily a shift in the way spending will be done, not so much the overall level of spending related to the larger IT economy, Sajko said. Still, state and local spending on IT can be seen as a "more stable" area for IT spending in coming years than others, Sajko said. Several CEOs in recent days have said in interviews with Computerworld that they are carefully watching the direction of the general economy. They said they learned from the dot-com bust to adapt their products to the most successful market segments in order to weather downturns. For example, Maria Ligeti, CEO of startup React Systems in Roseville, Calif., said yesterday she has profited from observing the IT industry's upturns and downturns in Silicon Valley for more than 20 years while working in various roles. A new product and service her company is launching soon in emergency communications will be marketed to several vertical industry segments. She said the offerings have been fostered over several months by early adopters, she said. "We think we'll be somewhat immune" if there's a downturn, she said with confidence.
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NEW YORK, October 20  - The US Federal Reserve Chairman, Alan Greenspan, does not expect the record high consumer debts and rising home prices to emerge as serious sustained threats to the US economy.
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U.S. Federal Reserve Chairman Alan  Greenspan said on Friday the United States should cut its  budget gap to foster a more balanced pattern of global trade  and avoid painful economic consequences.
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Federal Reserve chairman Ben Bernanke said yesterday that the burden from retiring baby boomers will strain the nation's budget and economy, unless Social Security and Medicare are revamped.
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Former Federal Reserve Chairman Alan Greenspan said in an interview published on Monday the Fed would have to raise interest rates to double-digit levels in coming years to thwart inflation.
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SAN FRANCISCO Aug. 27, 2004 - Democrat John Kerry&#39;s presidential campaign said Friday that Federal Reserve Chairman Alan Greenspan&#39;s warning of a looming crisis for Social Security and Medicare should be