DARYN KAGAN, CNN ANCHOR: Well, let's go ahead and talk money because that's what they are talking about in Washington today. Wonks and wizards have long -- have long considered politics local, but seemingly nothing hits more than reaching home. Federal Reserve Chairman -- well, let's go ahead and take a look at the markets, I guess. There's the Dow. Let's look at the Wall Street. The Dow is up 78 points. Nasdaq is down 20 points. We'll have more on the markets and also Alan Greenspan. Meanwhile, let's go ahead and check in with our Peter Viles who is looking ahead at -- looking ahead at Mr. Greenspan who will be speaking today to the Senate Budget Committee and what he might to have about -- have to say about proposed tax cuts. And with that, here's Peter -- Peter.</s>PETER VILES, CNN CORRESPONDENT: Good morning, good morning, Daryn. Alan Greenspan has entered the hearing room behind us, and he is expected to speak in about 15 minutes on tax and fiscal policy. We have prepared remarks. And maybe the key quote, here, he says: "Tax reduction appears required" over -- in the -- in any event over the several years. The problem is he sees it as the government is running such big surpluses that, at the end, if they pay off all the debt, that the government will have money, which it shouldn't have to invest in private assets, which will be a bad situation. You don't want the government in the stock market. So the government does need, at some point, to cut taxes. He says it's probably good to start sooner rather than later. But he also says it wouldn't necessarily help the economy right now to start on tax cuts. So the headline here is a cautious endorsement of a tax cut from the Federal Reserve chairman, but no indication from him that he thinks it will help the economy right away -- Daryn.</s>KAGAN: Peter Viles, thank you very much.
Greenspan Cautiously Endorses Tax Cut