Posted on 02/13/2011 3:36:50 PM PST by Leisler
Official Congressional budget estimates understate the peril of rising debt, Fed chair Ben Bernanke told the Budget Committee on Capitol Hill today.
Warning that our nation's fiscal health has deteriorated appreciably since the onset of the financial crisis and the recession, Bernanke called upon lawmakers to confront the long term fiscal challenges sooner rather than later. If lawmakers don't confront them, they'll find themselves confronted by them.
(Excerpt) Read more at cnbc.com ...
How can this be???!!! nobama promised me! This mustt be lies.. Waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa! he promised...
Correct.
Start with aggressive import tariffs.
A pro-America trade policy.
Then shut off imports from any nation which gives us any sh*t.
WTF!!!! I was told last year’s green shoots would morph into skittles and unicorns
This from a man who not 2 weeks ago stated that inflation was no threat.
He’s had an epiphany?
These idiots (congress, Bernacke) should be hunted down should there be a collapse. Hunted down and __________ (your choice/fill in the blank).
Quickly! We need to build a buttload of trains at the cost of trillions of dollars in taxpayer money!
there is a reason that they help public hanging’s in the town square!!!
Put it in your lawn mower and see what happens..bad.
“These idiots (congress, Bernacke) should be hunted down should there be a collapse. Hunted down and __________ (your choice/fill in the blank).”
Uhh Alex I’ll take lamposts for a 1000.
Only a fool believes we are anything but on the brink of collapse.
Can’t be true because I saw every irresponsible scummy lying left wing trouble making piece of garbage pandering slandering liberal democrat con artist on TV and they assured me again and again - that all these programs are fine there is no problem, it’s all paid for and this is one big fat republican trick because we all suck and want to kill children and deny them food, clothing, medical care and road work projects.
So go figure.
Bernanke’s part of the problem
“The entire FOMC knows the history and the ruinous fate that is meted out to countries whose central banks take to regularly monetizing government debt. Barring some unexpected shock to the economy or financial system, I think we have reached our limit. I would be wary of further expanding our balance sheet. But here is the essential fact I want to emphasize today: The Fed could not monetize the debt if the debt were not being created by Congress in the first place.”
http://www.dallasfed.org/news/speeches/fisher/2011/fs110112.cfm
Fed’s Losses Since The Start Of QE2: $76,814,152,246.00
“…it’s just a shame that, amid all of the committee’s discussion of the debt ceiling, no one bothered to ask what impact these asset sales might have on, well, the debt ceiling.”
in full http://www.zerohedge.com/article/feds-losses-start-qe2-7681415224600
What Part Of Bernanke’s Secret FCIC Interview Constitutes A Disclosure Of National Secrets?
Bernanke is one to talk. He is Congress’ co-dependent on spending. They spend. They issue T-Bills to fund the deficit. Bernanke buys the T-Bills. If he didn’t, interest rates would go up. So he is sweeping up all the short term consequences of a 1.4 T deficit and making the long-term consequences far worse.
He thinks he gets out of this mess with a lecture that congress should behave itself on spending? Methinks he should pull the log out of his own eye first.
And they should be brought back
This has been a pump and dump scheme from the beginning.
I share your sentiments.
ding, ding, ding! :)
What’s going to happen to our marvelous interstate system since the feds won’t have the money in the future to maintain it?
Trains for what???? Gas chambers???? What is bambi’s hurry?
This article should point out the gross treason of obama pelosi and reid in this. I’m sick of the msm so quickly whitewashing this.
All of a sudden this jerk-off is “Mr. Responsible”? Give me a freakin’ break.
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