"I am very much in favor of tax cuts but not with borrowed money," Greenspan said during an appearance on NBC.
"The problem that we've gotten into in recent years is that spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous and my view is I don't think we can play subtle policy here," said Greenspan.
"You don't agree with Republican leaders who say tax cuts pay for themselves?" asked NBC's David Gregory.
"They do not," Greenspan replied firmly