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Bernanke urges US to cut budget deficit
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beans4u
Frequent Contributor
Posts: 1337
Registered: 09-28-2008
Message 1 of 125
Viewed 15,056 times
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Good luck with that. Those days are long gone..Obama and the Democratically controlled Congress are equivalent to a couple of crack addicts with somebody else's Visa Gold Card.....buying anything and everything for themselves and all their friends. The fact that Obama pushes on with his spending & entitlement programs in light of the overwhelmiing deficit & debt confirms the fact that Obama has NEVER been responsible for a budget and is absolutely clueless when it comes to financial matters.... America will end up paying the ultimate price for electing a Community Organizer with NO real world experiece. Bernanke calls for US to `substantially reduce' budget deficits to combat global imbalances
By Jeannine Aversa, AP Economics Writer On 1:56 pm EDT, Monday October 19, 2009 WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke called Monday for the United States to whittle down its record-high budget deficits and for countries like China to get their consumers to spend more. Bernanke said those moves would help reduce "global imbalances" -- uneven trade and investment flows among countries that contributed to the financial crisis. The Fed chief's remarks to a Fed conference in Santa Barbara, California, came after the government said Friday that the U.S. budget deficit hit a $1.42 trillion deficit for the 2009 budget year that ended Sept. 30. The previous year's deficit was $459 billion. Bernanke's comments also followed pledges made by leaders of the Group of 20 nations at their summit last month in Pittsburgh to reduce global imbalances, such as Asians savings too much and Americans savings too little. Some improvement has been made in this area, but more progress is needed, he said. Money from countries with trade surpluses like China has flowed into the United States, a factor thought to have contributed to the low interest rates that helped feed the U.S. housing bubble. Bernanke said the best way for the United States to increase savings is to steadily reduce the federal budget deficits. He didn't suggest ways to do so. more at http://finance.yahoo.com/news/Bernanke-urges-US-to-cut-apf-4063653802.html?x=0 |
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10-19-2009 02:16 PM
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Re: Bernanke urges US to cut budget deficit
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Labouroflove
Veteran Contributor
Posts: 8110
Registered: 01-04-2008
Message 2 of 125
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beans4u wrote:
Good luck with that. Those days are long gone..Obama and the Democratically controlled Congress are equivalent to a couple of crack addicts with somebody else's Visa Gold Card.....
Sadly this is a perfect allusion. Congress as debt fiends on a binder; unstoppable.
Cheers
Labour
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10-19-2009 02:19 PM
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Re: Bernanke urges US to cut budget deficit
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Mimi1124
Frequent Contributor
Posts: 1056
Registered: 08-24-2009
Message 4 of 125
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" Bernanke urges US to cut budget deficit" Mimi writes:: Now that is as clever a remark as it could be. My, My. This clown and Paulson, Wolfowitz and co. have stolen and used our money creating "fiat" money with no backing behind it. Money as good as Monopoly money that has a deficit accrued to a preposterous degree and he comes out with that?? Lehman Bros. are back in business in Europe funded by IMF and our stimulus stolen money and doing well. Goldman Sachs , Bear Stearns, Morgan Stanley are giving all kinds of money out for bonuses and doing good. I have heard that some of the domestic ones have given back some but not all of the stimulus money given to them. Cannot verify that. Now that they have done their dirty work towards the NWO and socialism they want us to tighten our belts around thin waists already battered by the havoc they have caused. Their money is hidden in countries around the world and they sit in their ivory towers safe and secure with the booty they have happily torn from the taxpayers of the U.S. If this were the French Revolution their fate would be the guillotine or hanging or dragged through the streets by a rope and a horse. Alas it is not so. Even in the American revolution the heros were vilified, not the criminals. So we sit and wait for the next election. Much can happen before then. They have already called us cowards. Plenty of time for them to pull the wool over the eyes of the weak and greedy masses, the ignorant, the immigrants who all have their own agenda and it is not one for the United State but for their own selfish purposes. We have had crisis with our revolution freeing ourselves from tyranny and we face crisis again, just as critical. Time will tell what will be. |
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10-19-2009 02:45 PM
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Re: Bernanke urges US to cut budget deficit
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beans4u
Frequent Contributor
Posts: 1337
Registered: 09-28-2008
Message 5 of 125
Viewed 15,022 times
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Nothing like a keen eye for the obvious...he probably has 20/20 hindsight as well. Bernanke had no suggestions...I got one.................stop spending money we don't HAVE!!!!!!!!! Sometimes when you can't afford something...you just can't afford it.
Mimi1124 wrote: " Bernanke urges US to cut budget deficit" Mimi writes:: Now that is as clever a remark as it could be. My, My. This clown and Paulson, Wolfowitz and co. have stolen and used our money creating "fiat" money with no backing behind it. Money as good as Monopoly money that has a deficit accrued to a preposterous degree and he comes out with that?? Lehman Bros. are back in business in Europe funded by IMF and our stimulus stolen money and doing well. Goldman Sachs , Bear Stearns, Morgan Stanley are giving all kinds of money out for bonuses and doing good. I have heard that some of the domestic ones have given back some but not all of the stimulus money given to them. Cannot verify that. Now that they have done their dirty work towards the NWO and socialism they want us to tighten our belts around thin waists already battered by the havoc they have caused. Their money is hidden in countries around the world and they sit in their ivory towers safe and secure with the booty they have happily torn from the taxpayers of the U.S. If this were the French Revolution their fate would be the guillotine or hanging or dragged through the streets by a rope and a horse. Alas it is not so. Even in the American revolution the heros were vilified, not the criminals. So we sit and wait for the next election. Much can happen before then. They have already called us cowards. Plenty of time for them to pull the wool over the eyes of the weak and greedy masses, the ignorant, the immigrants who all have their own agenda and it is not one for the United State but for their own selfish purposes. We have had crisis with our revolution freeing ourselves from tyranny and we face crisis again, just as critical. Time will tell what will be.
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10-19-2009 07:37 PM
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Re: Bernanke urges US to cut budget deficit
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aerborne-929
Bronze Star Contributor
Posts: 12578
Registered: 10-28-2006
Message 6 of 125
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You couldn't pick two more opposing concepts: Our government and a balanced budget.
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10-19-2009 07:47 PM
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Re: Bernanke urges US to cut budget deficit
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godolphins
Frequent Contributor
Posts: 1567
Registered: 04-10-2007
Message 7 of 125
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gone2far wrote: Those deficits don't phase the democrats,they'll just spend more. If people would hold onto their money this holiday season and send a real message to wall street and the politicians something might be done. The only thing any of these people understand is money and as long as we are willing to hand it to them nothing will change.
While I will agree with you that the deficit is of little importance to the Democrats. I don't think the Republicans are any better. Under Bush the Republican controlled Congress failed to reduce the deficit at all during the six years they held the majority. In fact they cut taxes and increased spending. So while the Democrats certainly deserve the blame right now for the increasing deficits. The Republicans are just as bad when it comes to spending taxpayer money as the Democrats are. Neither party seems to know how to balance a budget. As far as not spending this Xmas. Exactly what positive effect that would have on the overall economy is beyond me. I for one will be spending more this Xmas then I did last year. Boycotting retailers to get back at Congress appears somewhat absurd if you ask me.
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10-19-2009 07:50 PM
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Re: Bernanke urges US to cut budget deficit
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The-2nd-Sloth
Frequent Contributor
Posts: 1019
Registered: 08-07-2009
Message 8 of 125
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"Reagan proved that deficits don't matter". D ick Cheney - 2004
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10-19-2009 07:58 PM
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Re: Bernanke urges US to cut budget deficit
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laserdoc
Contributor
Posts: 64
Registered: 06-17-2009
Message 10 of 125
Viewed 14,988 times
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Ever since the creation of the Federal Reserve system in 1913, EVERY SINGLE CHAIRMAN of the Fed, without exception, has been Jewish. That tradition has continued in the appointment by President Dubya of Ben Shalom Bernanke (Yes, that’s his real middle name) as successor to Alan Greenspan. It is difficult to overstate the importance of the Federal Reserve in maintaining the Judaic control not only of our American economy and politics, but the economy and statecraft of the entire world. Very few people in America even understand what the Federal Reserve is, despite the fact that every single dollar bill in their wallets bears the description “Federal Reserve Note.” Many people think that they are working to earn “American money” or “U. S. dollars” and that the green pieces of paper in their wallets are in some way connected with the United States or backed by the United States government. They are not. They are Federal Reserve notes–PRIVATELY printed money issued under contract to the U. S. by a JEWISH controlled corporation. |
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10-19-2009 09:24 PM
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