Bernanke urges Congress to begin work on curbing soaring budget deficits. "With the ratio of...

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lightwarrior Comments (11)
 
If Obama bails out California, then we know there is not cut-back in budgets... voluntarily.
3 Jun 2009, 10:09 AM Reply Like

youngman442002 Comments (4972)
 
He's fired......what about health care????? Cap and trade????? green energy???? Green Jobs?????? all the Democratic states that need money????? Its not going to happen.......
3 Jun 2009, 10:13 AM Reply Like

Tricky Comments (1265)
 
... and floundering nationalized companies...
3 Jun 2009, 10:22 AM Reply Like

SP600 Comments (23)
 
Why Bernanke did not mention how he forced the government to approve TARP and the stimulus package? The Banks put the country in huge defits and now they are saying reduce them. Sure you bastards. The FEDERAL RESERVE is the largest holder of US debt. WHY DO NOT YOU CUT AMERICA"S DEBT? GREEDY CROOKS>
3 Jun 2009, 10:36 AM Reply Like

youngman442002 Comments (4972)
 
He can show in his tell all book that he wanted to reduce spending all along now....ROTFLMAO
3 Jun 2009, 10:46 AM Reply Like

Poor Texan Comments (3488)
 
Gee, now Bernacke's worried about too much debt? The genie is out of the bottle and I don't see who's powerful (or willing) enough to put it back in.
3 Jun 2009, 10:57 AM Reply Like

Neil459 Comments (2640)
 
Ops, Bernacke misspoke, this is great for Obama. Who's betting he'll be replaced. The important book is the Obama book. So Obama will replace Bernacke and say, "I really did not like all that spending that Bernacke did so I replaced him, but it was too late. Anyway Bernacke was a Bush appointee and I disagreed all along."
3 Jun 2009, 11:54 AM Reply Like

rick12345 Comments (629)
 
The deficit will be reduced from $1.8 trillion to $1.3 trillion in one year , even though economic growth will be subdued for some time to come?? How do you explain this, Mr Bernanke, particularly in light of the fact that foreclosures are increasing, and the govt is in no rush to take back the tarp money. Add to this the $2.8 trillion in toxic debt that was purchased by the administration, as well as falling tax receipts resulting from rising unemployment, and you get a rather ugly picture. Inflation has already started to rise as indicated by the increase in oil and energy prices. Rising commodity prices will only inflame the situation, as will soaring interest rates (make no mistake, once the banks' financial positions improve, they won't hesitate to bump up the interest rate quickly). In fact, they've already been given the green light to increase rates as evidenced in recent bond sales.
The bottom line: INFLATION, INFLATION, INFLATION, followed by more INFLATION.
7 Jun 2009, 01:13 AM Reply Like