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 Bernanke Urges Deficit Reduction, Sees Growth This Year

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lyniebell

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Join date : 2009-05-04
Posts : 151
Location : Pittsboro/Silk Hope
Age : 64

PostSubject: Bernanke Urges Deficit Reduction, Sees Growth This Year   Thu Jun 04, 2009 10:09 am

Federal Reserve Chairman Ben Bernanke warned Congress and the White House that the U.S. economy will suffer if they don't move soon to rein in the federal budget deficit, which the Fed chief blamed for helping to push long-term interest rates higher.

Mr. Bernanke, who offered an important voice of support earlier this year to the Obama administration's $787 billion fiscal stimulus plan, told Congress Wednesday, "Even as we take steps to address the recession and threats to financial stability, maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance." (Read the full remarks.)

http://online.wsj.com/article/SB124403584900281215.html

I like Bernanke. It's good the Fed is finally getting verbal about the spending. Maybe there is hope after all? I imagine Bernanke will not be reappointed though. The Big Gov will not heed his words because they have to get that new Socialized Health plans in place.

I especially like the comments that are made on this article.
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