"We are not out of the woods," says Fed chief Bernanke in "a conversation" at the University of...

|By:, SA News Editor

"We are not out of the woods," says Fed chief Bernanke in "a conversation" at the University of Michigan's Ford School. Raising the debt ceiling does not create new spending, he says. It simply allows the government to pay bills already racked up. There's no speech - he's currently taking questions from a moderator and will later take questions from the audience and from the twitterverse.