FED: Ben Bernanke: Federal budget 'unsustainable'

[bobbyw24]

Federal Reserve Chairman Ben Bernanke says Congress needs to create a plan to manage the country's debt because the federal budget "appears to be on an unsustainable path."

Testifying before the House Budget Committee on the state of the economy, Bernanke said lawmakers should take decisive action to show investors that the country can get back on the right financial path. But he did not offer specific remedies for Congress.

As Congress prepares to take up emergency spending legislation in the next few weeks, the deficit has created a "structural budget gap that is both large relative to the size of the economy and increasing over time," Bernanke said.

Read more: http://www.politico.com/news/stories/0610/38310.html#ixzz0qNCp0lha

 

[amadeus8888]

Economically literate Americans: Federal Reserve robbery unsustainable!

Let's keep the pressure up. We haven't had an opportunity to expose and END THE FED like this since the criminals got the Fed Act passed in 1913. The time has come

 

[torchbearer]

its more like he is trying to tell them they need to milk the cow slower or they are going to kill it and ruin the scam they are running on the american people.
this will be their downfall because the greed of these power hungry tyrants can never be filled, so the leviathon will continue to grow until it collapse upon itself. at that point, even the members of the cartel will turn on each other.

 

[nandnor]

Looks like Bernanke's been watching some Schiff video blogs recently

 

[Travlyr]

It really is a "Catch 22"

Federal Reserve Chairman Ben Bernanke says Congress needs to create a plan to manage the country's debt because the federal budget "appears to be on an unsustainable path."

In a debt society; debt is money. Slowing down the debt, slows the money supply and that is unsustainable. Spending, increases the money supply and the debt. Hence, if you people aren't going to spend money, then the government will. Increasing the spending, the money supply and debt becomes unmanageable because of the interest. The only way out politically is to pay everyone what they are owed.

The Internet has been a major factor in exposing the truth about "fiat" money and central planners. People should reject the new global scheme of special drawing rights, and I think they will reject any continuation to play with paper that is not backed by something real.

Right now we get to take paper to the automobile dealer and drive off with a new car! That scenario may not last forever. Get some silver.