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Breaking News Home | All | Religion | Society | Tech | Choice | Fridays | SA Newsroom
FRONT PAGE  |  8/19/2017
SUNDAY, FEB 5, 2012  |  5 comments
Rising Deficits Pose Major Threat to Economy: Bernanke
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.

Calling the situation "unsustainable," the central bank leader pointed out that surging health-care costs, along with the high level of government spending used to pull the economy out of recession, are creating fiscal hazard.

"Having a large and increasing level of government debt relative to national income runs the risk of serious economic consequences," Bernanke told the House Budget Committee. "Over the longer term, the current trajectory of federal debt threatens to crowd out private capital formation and thus reduce productivity growth." ...


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www.cnbc.com

Response to economic crisis?
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· Page 1 ·  Found: 5 user comment(s)
News Item2/5/12 4:47 PM
Mike | New York  Find all comments by Mike
"Having a large and increasing level of government debt relative to national income runs the risk of serious economic consequences," Bernanke told the House Budget Committee. "Over the longer term, the current trajectory of federal debt threatens to crowd out private capital formation and thus reduce productivity growth." ...

Isn't that the idea, Bernanke? How else we going get more crises requiring more government to fix it?

Bruce of London: "Europe" should take responsibility for its failings, don't you think?

5

News Item2/5/12 12:00 PM
Raddle  Find all comments by Raddle
Bruce wrote:
Ok let's make this plain, from London where we suffer because of US Finantial mis- management Ben Bernanke needs to be fired and his predisesor should be investigated as well
But Bruce
I thought [Sir] Fred Goodwin and Gordon Brown were to blame for all Britain's financial problems??
4

News Item2/5/12 11:51 AM
Bruce | London  Contact via emailFind all comments by Bruce
Ok let's make this plain, from London where we suffer because of US Finantial mis- management Ben Bernanke needs to be fired and his predisesor should be investigated as well
3

News Item2/5/12 10:26 AM
Bruce | London  Contact via emailFind all comments by Bruce
This is like the guy who made the girl pregnant talking about population control, you are one of the people to blame for this
2

News Item2/5/12 8:26 AM
Rufus | Fort Worth, TX  Protected NameFind all comments by Rufus
This is akin to Bernanke being a crack dealer pretending to be concerned that his user might die from his product.
1
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