{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN (2)' data-url='/boclips/videos/5c54c48bd8eafeecae1699f9' data-video-url='/boclips/videos/5c54c48bd8eafeecae1699f9' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN (2)\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/NatIn the U-S-A, President Bush's call for a tax cut is getting some backing from the Federal Reserve Chairman Alan Greenspan.Testifying before the Senate Budget Committee on Thursday, Greenspan said rising estimates of budget...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eIn the U-S-A, President Bush's call for a tax cut is getting some backing from the Federal Reserve Chairman Alan Greenspan.\u003cbr/\u003eTestifying before the Senate Budget Committee on Thursday, Greenspan said rising estimates of budget surpluses give lawmakers the ability to cut taxes. \u003cbr/\u003eAnd he suggested it would be better to have the tax cuts sooner rather than later.\u003cbr/\u003eGreenspan recommended that Congress also look at ways to suspend the tax cuts if current revenue forecasts turn out to be too optimistic.\u003cbr/\u003eThe Chairman had previously expressed himself in favour of using the surpluses to reduce the national debt, rather than cut taxes.\u003cbr/\u003eGreenspan said while he still believes debt reduction is the best use for the added revenue, government estimates project more than enough surplus funds to pay off the debt and still cut taxes.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The sequence of upward revisions to the budget surplus projections for several years now has reshaped the choices and opportunities before us. Indeed, in almost any credible baseline scenario, short of a major and prolonged economic contraction...\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The most recent data significantly raise the probability that sufficient resources will be available to undertake both debt reduction and surplus-lowering policy initiatives. Accordingly, the trade-off faced earlier appears no longer an issue.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003eGreenspan didn't discuss what size tax cut Congress should consider. \u003cbr/\u003ePresident Bush is recommending a one-point-six trillion dollar cut over 10 years, a level that Democrats in Congress contend is too large.\u003cbr/\u003eEven without endorsing Bush's specific tax plan, Greenspan's endorsement of the economic soundness of cutting taxes represented a significant victory for the new administration.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"In general as I have testified previously, if long term fiscal stability is the criterion it is far better in my judgement that the surpluses be lowered by tax reductions than by spending increases.  The flurry of increases in outlays that occurred near the conclusion of last fall's budget deliberations is troubling because it makes the previous year's lack of discipline less likely to have been an aberration.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003eAsked if the U-S had suffered a recession, Greenspan would only admit to a slowing down.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"As far as we can judge, we have had a very dramatic slowing down, and indeed we are probably very close to zero at this particular moment.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003eAnalysts are looking for the central bank to cut interest rates when it meets next week, in the face of slowing economic growth. \u003cbr/\u003eThere's no direct mention of rate cuts in the prepared testimony released by the Federal Reserve.\u003cbr/\u003eWashington, DC, USA - 25 January 2001\u003cbr/\u003e1. Greenspan walks into hearing room and sits at witness table\u003cbr/\u003e2. Cutaway of Senate Budget Committee\u003cbr/\u003ePool\u003cbr/\u003e3. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman \u003cbr/\u003e4. Cutaway of photographers\u003cbr/\u003e5. Wide shot of Greenspan testifying\u003cbr/\u003ePool\u003cbr/\u003e6. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman \u003cbr/\u003e7. Cutaway of audience at hearing\u003cbr/\u003e8. Wide shot of hearing\u003cbr/\u003ePool\u003cbr/\u003e9. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman \u003cbr/\u003e10. Audience\u003cbr/\u003e11. Wide shot of hearing\u003cbr/\u003ePool\u003cbr/\u003e12. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman \u003cbr/\u003e13. 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id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003eeconomy, business, north america\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' 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