PROFESSOR GREENSPAN CORRECTS GOP MATH

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Federal Reserve Board Chairman Alan Greenspan today blasted the GOP for budget calculations that he said use "overly optimistic" revenue projections in order to balance the budget while making fewer painful spending cuts. Speaker Newt Gingrich favors a Reaganesque scheme called "dynamic scoring," which predicts that tax cuts lead to rising government revenues. Greenspan said the country should be "especially cautious" of this assumption.