[KansasGirl]

Needs to be said again:

Bernanke lied to Congress.

He promised the Federal Reserve would not monetize the debt of the U.S. government.

[opentalk]

Bernanke testimony before Congress:

“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.”