Looks like big Ben must be drinking a little Republican koolaid.....this guy must be nuts!
“Under current law, on Jan. 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases,” Bernanke told the House Financial Services Committee. “I hope that Congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date.
“All those things are hitting on the same day, basically. It’s quite a big event.”
The tax hikes and spending cuts could knock GDP growth in 2013 down from 2.6 percent to 1 percent, according to Andrew Fieldhouse, a federal budget policy analyst with the liberal Economic Policy Institute .
“There is obviously a huge fiscal drag pending if Congress adheres to existing law,” he said.
I wonder if Congress will listen?
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
