Greenspan: Nation faces mountain of debt that it 'has never seen before'

In an interview with Bloomberg Television, Greenspan, former Federal Reserve chairman, warned that the debt could dampen the economic recovery.

"There is basically this huge overhang of federal debt which we have never seen before," Greenspan said. "It is going to have a marked impact eventually unless it is contained, on long-term rates. That will make a housing recovery very difficult to implement and put a dampening on capital investment as well."

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