April 14, 2010 Leave a comment
Mr. Bernanke said the nation’s debts and deficits could at some point alarm investors and raise long-term interest rates and the government’s borrowing costs.
Glad to see Bernanke’s on board with proactively lowering the national debt.
Mr. Bernanke’s fiscal admonitions came a week after he gave a speech in Dallas warning that the country must prepare for the aging of the population and could help give momentum to the bipartisan fiscal commission created by President Obama. But he did not specify whether he believed the government should raise taxes, make cuts to Social Security and other benefits programs, or do something else.
It’s important to note that he did not give specifics, instead leaving it up to Congress, and in turn suggesting that the bipartisan fiscal commission could point the way out.