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.Well.... what about the Biblically Literal Interpretation wherein jesus said to the saddues:
“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.”
Bernanke’s comments signal that the central bank sees risks of a relapse into financial turmoil even as credit markets show signs of stability. He warned the financial industry remains under stress and the credit crunch continues to limit spending.
[ cf Bernanke Warns Deficits Threaten Financial Stability ]
But Reagan PROOVED that deficits do not Matter!Why it is as if Bernanke has forgotten that
The Most Important Thing In A Time Of WAR!And therefore as long as there is a winning trooper trooping to the Mission Accomplished Dance with the RINO Rave Revue! We will always be WINNING!!! Because the glorious Power of Nuclear Merchantilism will mean that all countries will buy american debt instruments so as to protect themselves from the threat that they will need to be Nuked For Freedom!!!
Is tax cuts!
-- Tom "Kick their ass and take their gas" DeLay