Bernanke Concerned About Bush's Fiscal Recklessness

[kpete]

Fed Chairman concerned about Bush’s fiscal recklessness. New Federal Reserve Chairman Ben Bernanke: “The prospective increase in the budget deficit will place at risk future living standards of our country.”

http://thinkprogress.org/2006/03/14/fed-chairman-slams-bushs-fiscal-recklessness/


Bernanke: Budget Deficits Endanger Economy
By JEANNINE AVERSA,
AP Economics Writer


WASHINGTON - The persistence of big budget deficits raises risks to the country's long-term economic health and they need to be curbed, says Federal Reserve Chairman Ben Bernanke.

"The prospective increase in the budget deficit will place at risk future living standards of our country," Bernanke said. "As a result, I think it would be very desirable to take concrete steps to lower the prospective path of the deficit."

Bernanke's comments on the budget deficit were contained in a written response to questions raised by Sen. Robert Menendez, D-N.J., after the Fed's chief appearance at a congressional hearing on the economy in February.

Last year's budget deficit came to $319 billion, an improvement from 2004 but still the third largest deficit ever recorded. This year, the White House is projecting the deficit to swell to $423 billion, which would set a record in dollar terms.

http://news.yahoo.com/s/ap/20060314/ap_on_bi_ge/fed_bernanke_2

[electropop]

1. Bush must be trying to find a way to fire this guy.

:wtf: Who told me to nominate this clown? He's going out there and telling the truth! This is a disaster!

[RufusEarl]

2. Well they plan on cutting spending,

but it's the way the repughs do it that hurts.