Federal Reserve Chairman Ben Bernanke warned that federal budget deficits were growing so large that they threaten the nation's financial stability. "Cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation," Bernanke said. The warning dragged down U.S. stocks.That's balls.
Bernanke spends 2 Trillion dollars over the budget - then warns Congress that insane spending might harm the country.
Congrats Ben, you're Blasphemes Hypocrite of the Week!
Labels: bail out, Ben Bernanke, Congress, spending, The Fed