Federal Reserve Chairman Ben Bernanke didn’t have to deal with Texas Republican Congressman Ron Paul in his testimony delivered to the Congress. That still didn’t stop the three-time presidential candidate from critiquing Bernanke’s remarks about budget cuts, quantitative easing, the unemployment rate and the Fed’s operations. After Bernanke delivered his two-day testimony and answered questions […]
Archives for February 2013
Democrats in Congress complain about national debt clock on Capitol Hill
It seems California Democratic Congresswoman Maxine Waters and Illinois Democratic Congressman Keith Ellison would like to completely forget about the enormous $16.5 trillion national debt. During a House Financial Services Committee hearing Tuesday on the budget, both left-leaning representatives grieved that the national debt clock on Capitol Hill is nothing more than a “political prop” […]
President Obama’s budget, Obamacare create trillions of dollars more in deficits
During a Budget Committee hearing Tuesday, Alabama Republican Senator Jeff Sessions revealed a new report from the Government Accountability Office (GAO) that showed President Barack Obama’s Affordable Care Act (Obamacare) will add $6.2 trillion to the deficit over the next several decades and increase the federal debt 0.7 percent of the gross domestic product. Sessions, […]
Ben Bernanke proves why the Federal Reserve should be abolished
Federal Reserve Chairman Ben Bernanke delivered testimony to the Congress on Tuesday. It was an interesting speech because it just proved how incompetent he is and how the entire central banking system is flawed and a total failure. In his remarks, he discussed how low interest rates are benefiting the economy, the sequester (spending cuts) […]
Former Fed Economist Arnold Kling comments on interest, Ben Bernanke to deliver testimony
Arnold Kling, a former economist at the Federal Reserve from 1980 to 1986, published a blog post over the weekend that looked at economist Tyler Cowen’s remarks on the Fed and inflation levels. Here are Cowen’s initial comments: “Everything we were taught about the monetary base is wrong in a world with interest on reserves […]