Fed Chief Bernanke: We Need More Stimulus to Boost Economy & Reduce Unemployment
It worked so good the first time.
Barack Obama is the worst president in history on job creation–
According to data from the U.S. Bureau of Labor Statistics, the U.S. shed 2.3 million jobs since February 2009, Obama’s first full month in office. Since Obama’s election in 2008, the US economy has shed 4.4 million jobs. That’s worse than Herbert Hoover.
Barack Obama’s Keynesian policies have failed miserably. Democrats blew a Trillion dollars on a failed stimulus bill and all they managed to do was triple the national deficit in one year.
The national debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II.
Federal Reserve Chairman Ben Bernanke told Congress Thursday that the fragile economy needs government stimulus spending to strengthen the recovery and help reduce unemployment.
Testifying before the House Financial Services Committee, Bernanke urged lawmakers to come up with a credible plan to reduce the government’s record-high budget deficits in the long run. But he said they shouldn’t move now to slash spending or boost taxes in the near future.
“I believe we should maintain our stimulus in the short term,” Bernanke said as he spoke about the economy’s challenges for the second straight day on Capitol Hill.
Bernanke again said the Fed is prepared to take new steps to bolster the recovery if needed.
“We are ready, and we will act” if the economy doesn’t continue to improve, Bernanke told the House panel.
Another cool Trillion ought to do.
It’s only our grandkids who’ll have to pay it off after all.