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Bernanke: Obama stimulus would lift economy (but other steps needed to stabilize financial system)
AP on Yahoo ^ | 1/13/09 | Jeannine Aversa and Jane Wardell - ap

Posted on 01/13/2009 9:04:02 AM PST by NormsRevenge

LONDON – Federal Reserve Chairman Ben Bernanke said Tuesday the stimulus package being crafted by President-elect Barack Obama and Congress could provide a "significant boost" to the sinking economy. But he warned that such a recovery won't last unless other steps are taken to stabilize the shaky financial system.

Although Bernanke has previously endorsed the notion for a fresh round of government stimulus to lift the country out of a recession, it marked the first time the Fed chief has referenced the roughly $800 billion recovery plan now being worked on by Obama, who takes office next week. Obama envisions a blend of tax cuts and increased government spending, including on big public works projects, to make up the stimulus plan.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: bernanke; economy; federalreserve; financialcrisis; obama; obamatransitionfile; stimulus
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1 posted on 01/13/2009 9:04:02 AM PST by NormsRevenge
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To: NormsRevenge

Ben Bernanke is just as insane as Barack Obama.


2 posted on 01/13/2009 9:06:08 AM PST by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
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Bernanke: Obama stimulus would lift economy

Drink!

Federal Reserve Bank Chairman Ben Bernanke listens to a question after his speech at the
London School of Economics in central London January 13, 2009. (Toby Melville/Reuters)

3 posted on 01/13/2009 9:06:14 AM PST by NormsRevenge (Semper Fi ... Godspeed.)
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To: NormsRevenge
Bernanke has never met a government give away he didn't like. He should be behind bars for theft.
4 posted on 01/13/2009 9:08:46 AM PST by 444Flyer (Blame Hamas)
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To: NormsRevenge

Go print some more money, Ben.


5 posted on 01/13/2009 9:09:50 AM PST by mysterio
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lots of room for a caption balloon.. or two..

6 posted on 01/13/2009 9:09:52 AM PST by NormsRevenge (Semper Fi ... Godspeed.)
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Didn't see that one coming, eh, Ben?


7 posted on 01/13/2009 9:16:30 AM PST by NormsRevenge (Semper Fi ... Godspeed.)
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To: NormsRevenge

Isn’t this the idiot who was captain of the ship when it hit the iceberg?


8 posted on 01/13/2009 9:18:51 AM PST by ZULU ( God, guts and guns made America great. Non nobis, non nobis Domine, sed nomini tuo da gloriam.)
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To: NormsRevenge

You know, there’s one thing that is kind of striking, though probably apropos of nothing, when you see Ben and Hank at these Congressional meetings.

Hank, in one week, walks with over $500 million tax free from his GS holdings.

Ben, is a Fed chairman who makes on the order of $240K, maybe less. (don’t know the exact number)

Things that make you go “hmmmm.”


9 posted on 01/13/2009 9:23:17 AM PST by Attention Surplus Disorder (Satire writers should get a bailout. The current reality is putting them out of business.)
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To: NormsRevenge

Urgent message from Ben to Obama;

“Please don’t fire me! I’ll be a good little drone, I promise!”


10 posted on 01/13/2009 9:23:31 AM PST by PSYCHO-FREEP (WHAT? Where did my tag line go? (ACORN))
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To: NormsRevenge
Hurry up and spend that new 350 billion dollars so Obama can ask for a fresh 1 trillion to play with when he takes over in a week.
11 posted on 01/13/2009 9:25:01 AM PST by Dixie Yooper (Ephesians 6:11)
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To: NormsRevenge

Didn’t our founders specifically NOT want the power over The People put in the hands of unelected “officials?”


12 posted on 01/13/2009 9:37:40 AM PST by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: NormsRevenge
he warned that such a recovery won't last unless other steps are taken ... (roughly $800 billion recovery plan)...

$800B is not enough? $800,000,000,000? Eight hundred billion dollars? That's just a start? Personally, I'll take a nice year-long recession over $8,000+ per family in added debt without actually solving the problem. Bush was completely and totally wrong to go along with this socialist step, and Obama is going to be even worse.

13 posted on 01/13/2009 10:30:31 AM PST by MathDoc (Don't blame me, I voted for Governor Palin and the wrinkly white-haired guy)
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To: NormsRevenge
Federal Reserve Chairman Ben Bernanke said Tuesday the stimulus package being crafted by President-elect Barack Obama and Congress could provide a "significant boost" to the sinking economy.

Well, no, Bernanke didn't say that. The Associated Press said that. Apparently Bernanke offered insufficient praise for The Wonderfulness That Is Obama, so the AP reporters made something up and pretended that Bernanke said it. The headline writer then took the made-up part and made that the point of the whole story. See, this is what passes for "news" in the Age Of Obama.

Those Freepers who took Bernanke to task for saying that Obama's plan would stimulate the economy are allowing the AP to mold their thoughts. By now I'd think that most conservatives would know better than to rely on an Associated Press story to tell the truth about anything.

For what it's worth, the full text of Bernanke's speech is here. One searches in vain for any reference to Obama, his economic advisors, Congress, or the phrase "significant boost."


14 posted on 01/13/2009 10:42:59 AM PST by Nick Danger (www.swiftvets.com)
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To: ZULU

15 posted on 01/13/2009 11:04:35 AM PST by HooBoy
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To: NormsRevenge
Wow. They fall in line like drugged stooges.

Or, perhaps it might be more correct to say, the media presents them that way.

16 posted on 01/13/2009 11:15:00 AM PST by the invisib1e hand (revolution is in the hair.)
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To: NormsRevenge

Bernanke serves his buddies well.

The headline should read “Bernanke says stimulus will allow his close friends and co-religionists to go on as they were.”


17 posted on 01/13/2009 11:21:03 AM PST by Boiling Pots (The USA has become one huge pyramid scheme. Thanks George, John, Nancy and Harry.)
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To: NormsRevenge

I don’t get it....dems are against tax cuts that create jobs, saying it’s fiscally and morally irresponsible; but on the other hand they’re willing to spend money in an irresponsible way.

Doesn’t make sense.


18 posted on 01/13/2009 11:41:31 AM PST by Rick_Michael (Have no fear "Senator Government" is here)
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To: NormsRevenge

In other words, “Oh please Obamassiah, let me keep my job. I will bow before you and make your every wish come true.”


19 posted on 01/13/2009 12:05:48 PM PST by vpintheak (Like a muddied spring or a polluted well is a righteous man who gives way to the wicked. Prov. 25:26)
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To: Nick Danger

Thanks for the link and comments!


20 posted on 01/13/2009 12:28:05 PM PST by NormsRevenge (Semper Fi ... Godspeed.)
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