|Feb 2 (CNBC) — Rising federal budget deficits are posing a significant threat to the U.S. economy and are likely to cause a crisis if not brought under control, Federal Reserve Chairman Ben Bernanke told Congress Thursday. Full story here.|
I heard Bernanke say that if we don't get the deficit under control then we could have problems like Europe. I nearly gagged when I heard him say this. He knows better. He absolutely knows better. To conflate the U.S. with Europe is absurd. Completely and mind-numbingly absurd when done by someone of Bernanke's stature.
He has become a major part of the problem.