Bernanke sounds alarm on budget deficit

Houston Chronicle

06/03/09

The nation needs to begin planning now to reduce the budget deficit, Federal Reserve Chairman Ben Bernanke said Wednesday, arguing that even as the government acts to bolster the economy in the short run it must ensure that spending and revenue will come into line in the longer term. ‘Congress and the administration face formidable near-term challenges that must be addressed,’ Bernanke told the House Budget Committee, according to prepared testimony. But he warned that the economy will suffer ‘unless we demonstrate a strong commitment to fiscal sustainability in the longer term’...

http://www.chron.com/disp/story.mpl/politics/6457020.html


Informant: Thomas L. Knapp



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