Blog Archives

A quote to make you think…

Rick Perry joins the Ranks of the Inverted

“Look, I am not an establishment figure, never have been, and frankly, I don’t want to be. I dislike Washington; I think it’s a seedy place.”

— Texas Gov. Rick Perry

Don’t you wonder why a Presidential candidate would be so opposed to Washington, DC? It’s like being opposed to our National History, being opposed to being in the location of the seat of power, unwilling to communicate with the rest of the government in its central place.

It’s a good reason not to vote for the guy.

Will The Republicans Listen To Bernanke?

The Federal Reserve Chairman made his presentation to Congress today and was not thrilled with the House Republicans’ proposed budget cuts.

What are the odds that these turkeys ignore him?

Here’s a clip from a longer McClatchy article:

clipped from www.mcclatchydc.com

Bernanke: Steep budget cuts this year would threaten economy

Steep spending cuts proposed by Republicans in the House of Representatives would slow the nation’s economic growth, cost jobs and work against the Federal Reserve‘s efforts to stimulate the economy, Federal Reserve Chairman Ben Bernanke warned lawmakers Tuesday.
The nation’s prosperity would be better served by Congress and the White House agreeing on credible legislation to reduce the federal deficit and debt over a longer period of five or 10 years, he told the Senate Banking Committee.
Bernanke was asked repeatedly about GOP proposals to trim anywhere from $60 billion to $100 billion in government spending during the current fiscal year, which ends Sept. 30. These cuts would do little to bring down long-term budget deficits but would slow the economic recovery, he cautioned.
“That would be ‘contractionary’ to some extent,” Bernanke said.
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Ben Bernanke interviewed on 60 Minutes: Income Inequality Is ‘Creating Two Societies’

Gosh… Has Bernanke just figured this stuff out after helping to make the inequality himself?

Here’s a snip they had on HuffPo this morning:

clipped from www.huffingtonpost.com
Federal Reserve Chairman Ben Bernanke believes the growing income gap is “creating two societies” in America.
The central bank chief weighed in on income inequality during an interview Sunday with “60 Minutes” reporter Scott Pelley:

Pelley: The gap between rich and poor in this country has never been greater. In fact we have the biggest income disparity gap of any industrialized country in the world. And I wonder where you think that’s taking America.

Bernanke: It’s a very bad development. It’s creating two societies. And it’s based very much, I think, on educational differences. The unemployment rate we’ve been talking about. If you’re a college graduate, unemployment is 5 percent. If you’re a high school graduate, it’s 10 percent or more. It’s a very big difference. It leads to an unequal society, and a society which doesn’t have the cohesion that we’d like to see.”

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You notice he’s not saying what happens if you are a college graduate over 55 who became unemployed at the end of the Bush Debacle. I’ll bet our unemployment rate is at about 15%.