While Bernanke's fate hangs in the balance on Capitol Hill, former Fed chief Alan Greenspan...

|By:, SA News Editor

While Bernanke's fate hangs in the balance on Capitol Hill, former Fed chief Alan Greenspan backs calls for creation of a bipartisan commission on deficit reduction: "For more than two centuries, we have been able to hold the level of U.S. federal debt to well below our long-term capacity to borrow. But for the next decade or two, on some reasonable sets of assumptions, our borrowing cushion shrinks significantly, threatening to test our capacity to raise funds to finance unprecedented deficits."