Alan Greenspan said the economy will start to 'fade out' because of growing U.S. entitlement burden.
Economic growth won't last as the U.S. labors under the burden of growing entitlement programs and weakness around the world, former Federal Reserve Chairman Alan Greenspan told CNBC.
"I think the real problem is over the long run, we've got this significant continued drain coming from entitlements, which are basically draining capital investment dollar for dollar," he told CNBC's Sara Eisen during a"Squawk on the Street" interview. While he said the economy looks"reasonably good" in the short run, he expects that over the longer term, growth"fades very dramatically."
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