Wednesday, February 9, 2011

Bernanke is part of the problem

An exchange between Bernanke and House Budget Committee Chair, Paul Ryan (R-WI). It shows how Bernanke has become part of the problem.

Ryan: “Just to summarize, you do believe that one of the best things we can do for short-term economic growth is to put out a plan that actually stabilizes our fiscal picture, that actually gets our liabilities under control, and shows, with confidence, that we have the right trajectory because we’ve addressed the programs — which are spending programs — that are getting us out of control. Is that the case?”

Bernanke: “That’s correct.”


Tom Hickey said...

For a guy that is supposedly an expert in the Great Depression, he sure didn't learn much from his studies.

Oh, btw, did you catch the latest. The GOP want to tax abortions. How nutty is that?

Republicans push tax hike on private insurance plans with abortion coverage

mike norman said...

So I guess they understand that taxation is about behavior modification (that's why they're doing it, right?) not revenues per se?

Matt Franko said...

I had his testimony on the C-SPAN radio today... it was painful to listen to!

Mike did you get to see Cantor the other day?

Tom, this has the evangelicals fingerprints all over it... tax what you want to deter... save the unborn thru tax policy? sick!

mike norman said...


Yes, I saw him. There wasn't a lot I could ask. I did ask him about the debt ceiling and he said, "We'll get there." I took it to mean we'll see a debt ceiling increase, but only after some heavy duty wrangling. Market volatility likely to pick up.

Райчо Марков said...

"Oh, btw, did you catch the latest. The GOP want to tax abortions. How nutty is that?"

Logically their next step should be to eliminate the death penalty, make the prisoners work for their meals and save some government money for lethal chemicals.