June 3 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said large U.S. budget deficits threaten financial stability and the government can't continue indefinitely to borrow at the current rate to finance the shortfall.
"Unless we demonstrate a strong commitment to fiscal sustainability in the longer term, we will have neither financial stability nor healthy economic growth," Bernanke said in testimony to lawmakers today. "Maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance."
I jokingly posted last week that I was looking for a bumpersticker which said.. LET'S UN-RECALL GRAY DAVIS. The deficits which sent us to the polls to recall him were miniscule compared to where we are today.
We've sent strong messages recently with the Tea Parties and 2 'no mas' elections. If we're to really gain anything, we've got to continue to demand fiscal responsibility from all managers of OUR money.
The era of spending with impunity and running to the taxpayers for more when their irresponsible spending puts them in peril, has got to stop sometime. This is a fine time to start.
Vote the incumbents out! Vote against higher taxes! Demand accountability, transparency and fiscal responsibility at all levels..
The current administration and congress have put the entire economy at risk. This is not the time to ignore tax and spend policies. It needs to STOP here and NOW!
NETWORK had it right! "I'm mad as hell and I'm not going to take it any longer"!
That's all folks....
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