Posted on 11/07/2010 2:04:12 PM PST by FTJM
Paul Ryan, the incoming chairman of the House Budget Committee, has called the Federal Reserves plan to pump $600 billion into the economy a big mistake.
Fed Chairman Ben Bernanke moved Wednesday to pour $600 billion into the banking system in an effort to speed up what the Fed has called a disappointingly slow national economic recovery.
Ryan, a Republican from Wisconsin, panned the decision during an interview on "Fox News Sunday." He is the ranking Republican on the House Budget Committee and will take over as chairman in January.
Its a big mistake, in my opinion, he said. Look, we have Congress doing tax and spend, borrow and spend. Now we have the Federal Reserve doing print and spend.
(Excerpt) Read more at thehill.com ...
true. Just got back today from grocery shopping...sticker shock.
Jim wrote,
Woo hoo!! Closing in on the finish line!! Less than $2,100 to go!!
Let's git er done!!
If you enjoy reading or posting to FR and haven't donated yet, please consider doing so today!
he's absolutely right. the money should at least be a different color. A nice shade fuscia, say.
That would make a big difference.
OK...we know that. Now......put a stop to it. Take over the Fed and do it now.
Exactly. Let’s eliminate the Fed’s hold on our economic system.
Unless we demonstrate a strong commitment to fiscal sustainability in the longer term, we will have neither financial stability nor healthy economic growth, Bernanke said in testimony to lawmakers today. Maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance. He said the Fed wont finance government spending over the long term, while warning that the financial industry remains under stress and the credit crunch continues to limit spending. Either cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation, Bernanke said in response to a question. The Federal Reserve will not monetize the debt. - Ben Bernanke 6/3/9
Quantitatively ease Barnanke and his plunderers into a jail cell. Eliminate the FED. Eliminate all anti-freedom collectives plunging us, our kids, our grandkids into mandated debt slavery.
Republicans in the House need to jump on this and fast. I don’t know how the Fed got this much control but it is the job of Congress to protect the people of this country. What better way than to cut the contol of the people and their money.
Meanwhile, the Fed is enjoying a weekend at Jekyll Island praising themselves for the great job they have done in the past 100 years.
http://www.frbatlanta.org/news/conferences/10jekyll_agenda2.cfm
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.