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“It’s very, very important that Congress take the necessary action to raise the debt ceiling to avoid the situation where the government doesn’t pay its bills,”

yet

“debt ceiling” has “symbolic value”

Good grief, this guy is just a crony whose job is to keep the grifting/debt running smoothly/growing. The Federal government has plenty of assets to sell off that would of payed for TARP, the Treasury, and serving preexisting debt. Bernanke in the private sector and public officials who were covering for the problems they unleashed on the financial sector (Which screwed the pooch) should of not had their loses socialized. My kids and their kids should not have to deal with the mistakes that past generations have placed on them, like half-baked Keynsian policies that only deal with the here and now. Enjoy admiring your witch doctors, they sure have you spellbound.

Debt ceiling = responsibility, it should be lowered not abolished. Bernanke is drinking Keynes' Flavor-aid. Like I said, the Fed gov have trillions in assets they could sell off without raising taxes and thousands of regulatory "decrees" if eliminated that would grow the economy (Thus more receipts) to pay their bills, but your heroes in the economic world are arguing to just green light more spending/debt growth by calling for the end of this "symbolic" ceiling. I guess your groupie mentality has blinded your being able to see the end game going on; Bernanke's insistence that Congress should have the perpetual freedom to grow the debt to infinite and not be restrained by "symbolism". Bernanke's words brings orgasms to tax and spenders, yet he is brilliant or whatever undeserving glorifying adjective you used for him.

How does the "debt ceiling = responsibility and Bernanke's insistence that Congress should have the perpetual freedom to grow the debt to infinite and not be restrained by "symbolism"" if it has always been raised by Congress and Presidents of BOTH parties?

What would have been the impact on "your kids" had the financial sector, through the wiping out of trillions of dollars of derivatives, been allowed to fail and not "bailed out by TARP which has been substantially repaid in full?

I agree with you on the "half-baked Keynsian policies' and have never said otherwise. Again, that was all Obama and Congress. If you don't believe in Keynesianism what sort of economics do you believe in and what is the proper response to a deflationary spiral? TIA.......