Alan Greenspan Quotes

The debt ceiling serves no useful purpose.

 
Context
By the time the debt ceiling needs a Congressional vote, the money has already been obligated and spent. That is when Congress can control spending. The debt ceiling is ALWAYS increased by Congress when asked otherwise the U. S. would not be able to pay its bills. However, many members of Congress like the fact that every year or so the administration needs their votes so they can extract benefits for their constituents more easily with that leverage.
Alan Greenspan
Alan Greenspan
  • Born: March 6, 1926
  • Nationality: American
  • Profession: Economist

Alan Greenspan is an American economist who served as Chair of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position (behind William McChesney Martin).