Greenspan: Sequester cuts will not be horrendous for the economy

[bedstuy]

The piggy public sector could be gutted and most of the productive private sector would not even notice if nobody told them about it. If anything, confidence would soar if the gutting resulted in a balanced budget coupled with the potential for lowered taxation in the long-run (e.g., late 1990s).

No private company would want the government to immediately balance the federal budget because we would immediately go into a recession.  That's blatantly silly.