Fed chief to Congress: Don't end stimulus spending (fragile economy still needs it. Thanks, Dems!)

AP on Yahoo ^ | 7/22/10 | Jeannine Aversa - AP

[NormsRevenge]

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Congress Thursday that the fragile economy still needs government stimulus spending to strengthen the recovery and help reduce unemployment.

Testifying before the House Financial Services Committee, Bernanke did urge lawmakers to come up with a credible plan to reduce the government's record-high budget deficits in the long run. But he said they shouldn't move now to slash spending or boost taxes, or undertake some combination of both.

"I believe we should maintain our stimulus in the short term," Bernanke said as he spoke about the economy's challenges for the second straight day on Capitol Hill.

[NormsRevenge]

Thanks Dems, for nothing.

November. just the mention of the word should send shivers and tingles up and down the spines of DEmocRats up for election or re-election.. those that have spines anyway.. Stand by your man. Obama.

[Pessimist]

“But he said they shouldn’t move now to slash spending or boost taxes, or undertake some combination of both.”

So, they should boost spending, but not the deficit or taxes.

I don’t see any suggestions there. Isn’t that essentially impossible?

[NormsRevenge]

state of the economy.. pretty sad,,
Under control of a Democrat-controlled Congre$$ since 2007 and WH since 2009.

Screw incrementalism and cooperation and careful consideration,
Just jam the thing thru.

U.S. Federal Reserve Chairman Ben Bernanke listens to questions as he testifies before a House Financial Services hearing on the "Monetary Policy and the State of the Economy" on Capitol Hill in Washington, July 22, 2010. Speaking on the monitor is Rep. Barney Frank (D-MA). REUTERS/Jim Young

[Mr. K]

Keep the brakes on and the car will move faster!!

and government health care will be better too...

[NormsRevenge]

We’re talking ‘DC elites’ logic here. :-}

[what's up]

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Congress Thursday that the fragile economy still needs government stimulus spending to strengthen the recovery and help reduce unemployment.

Testifying before the House Financial Services Committee, Bernanke did urge lawmakers to come up with a credible plan to reduce the government's record-high budget deficits in the long run. But he said they shouldn't move now to slash spending or boost taxes, or undertake some combination of both.

Funny how the lead paragraph leaves out the TAX CUTS that Bernanke mentioned, but puts in the stimulus. (They stick tax cuts in very shyly in the second paragraph.)

[NormsRevenge]

Ben really enjoys going to the Capitol for these sessions.

[OB1kNOb]

Another order of QE, coming up!

[colorado tanker]

Translation: Have I pandered enough to you to get reappointed?

[rockabyebaby]

REMEMBER IN NOVEMBER

[Jim W N]

The patient’s not getting any better, so we better keep bleeding him...

[combat_boots]