Is Bernanke Nudging Obama on Deficits?

re: Is Bernanke nudging Obama on deficits?

pjam — Wed, 03 Jun 2009 18:12:20 GMT

Bernake is not nudging Obama, he simply sees where the country is headed and is attempting to cover his own behind.

If you expect things to get much worse and you just wasted trillions of dollars you start looking for a place to shift blame, hence "look over here at these budgets which I am not responsible for, they are bad".

re: Is Bernanke Nudging Obama on Deficits?

kenfromillinois — Wed, 03 Jun 2009 18:34:28 GMT

Now we see what Obama is made of. He has the opportunity to destroy the Democrat Party if he plunges the US into a depression by significantly increasing spending and debt. He could go down as the dumbest President of all time, dumber than Jimmy Carter.

re: Is Bernanke Nudging Obama on Deficits?

EJRuff — Wed, 03 Jun 2009 18:38:38 GMT

Bernanke, along with the rest of us, should be pushing and shoving both BO and our congressman toward more fiscal responsibility. As we have seen, in the cases of multitudes of people, and a large number of corporations, their are credit limits for everyone: This includes the government.

We can't have unsustainable deficits.

re: Is Bernanke Nudging Obama on Deficits?

The Messiah — Wed, 03 Jun 2009 19:01:59 GMT

The pain and suffering of the working class has just begun in America.

Just in - 20+% STAGGERING UNEMPLOYMENT FIGURES for the U.S. !

When you have no job, no home and you're hungry - then you'll start to understand that Bama-Nomics does not work!

Wait until next month when the auto industry massacre numbers start to show up in the data.

How much PAIN will it take before America wakes-up ?

Now that the U.S. tax payers are part owners of GM and Chrysler not a single job or part should be produced or purchased from outside of the U.S. and Canada. Neither GM nor Chrysler should be allowed to build cars in Korea or elsewhere and import them to the U.S.

America needs jobs. We have staggering unemployment thanks to Bama's massacre of the U.S. economy. It's time that Bama and the rest of these criminals be held accountable for their crimes.

re: Is Bernanke Nudging Obama on Deficits?

CharlieBrown8989 — Wed, 03 Jun 2009 19:35:59 GMT

I don't see our economy would be recovered by 2nd half of this year.

We are actually the leader of Knowledge Economy & e-Economy, The Knowledge workers today; are well qualified & loosing jobs, Entrepreneurs are losing business. Thus, no food on the table, no home for shelter.

The money injected are not bailing out the main street, the credit score system further killing the recovery of individual.

In my opinion, we need a New Amercian Corporate Culture for our present Knowledge economy & e-Economy era. Stop paying big fat renumerations to all American Inc. Not only those bailed out by the our taxpayes' money.

To sum up, we need to:

Discovering New Resources & Stop the wasteful payment, bring home those Knowledge Base jobs to our nation, those smoke stack industries are less concern at the moment. As it is not the pillar of our knowledgebase economy.

Creativing more jobs & Benevalence to the commoners that in suffering.

Reduce the Have - Have not gap.

Reduce the spending in financing other Nations "War".

Transit Shelters & food, medical care for those in suffering.

Avoid raising taxes.

Control the food, Gas & Energy prices & the financial derivative businesses.

Only that our deficits can be reduce.

re: Is Bernanke Nudging Obama on Deficits?

dadoftim — Wed, 03 Jun 2009 19:40:32 GMT

Time for government to take its own advice, like GM they need to eliminate two thirds of their size and become leaner and more efficent. Focus on the core fundamentals, cut taxes, let the states have more power to solve the peoples welfare.

re: Is Bernanke Nudging Obama on Deficits?

The Observer III — Wed, 03 Jun 2009 20:02:08 GMT

I can appreciate Mr. Bernanke's position on reducing the Federal budget deficits for the good of the country's economic future; but given the depressed economy President Obama and his economic advisers (Democrats and Republicans) felt it necessary to incur a certain debt level to turn things around for the people of these United States.

I would venture a guess that there are those who are blaming President Obama for the current state of our economy even though he has only been in office more than a 100 days without focusing on the previous administration's economic polices.

It is obvious to me that blaming the former administration and the current adminstration does not

improve the economic plight of this country; I would hope that Democrats, Republicans, Independents alike will rally our Presdient to work towards making this nation economically strong once again.

In closing it does not take much brain power to criticize but it does take some creative effort to come-up with solutions to problems.

re: Is Bernanke Nudging Obama on Deficits?

concernedcolorado — Wed, 03 Jun 2009 20:24:39 GMT

Sorry Observer, I think you are missing a few points. While true the President and his advisors (all Democrat and Paul Volcker doesn't count-he deficit spent freely too) felt the need to deficit spend in order to shore up the economy. It was not bipartisan save three republicans, one who has sinced turned Democrat.

We are blaming President Obama for all of this mess. Democrats need to stop Monday morning quarterbacking the previous administration and realize that the policies of Bush and Obama are the same-spending money you don't have. The other seemingly intelligent answer would be is that if you jump in a hole that is two feet deep (deficit) the worst thing you can do is dig the next four feet for yourself.

In short he had all the momentum in the world coming out of the election, passed legislation in record speed, but he simply chose the wrong course to take and now he and this adminstration's hands are tied. The market in the form on interest rates are going to dictate the future. Higher prices for food, energy and every consumable will be on the rise and continue to rise in the forseeable future.

Much smaller government is the only way to go with tax benefits for those who capital to new endeavors is the only way we will be able to get this economy back on track, lower unemployment, stabilize prices, and create jobs.

re: Is Bernanke Nudging Obama on Deficits?

metahands2 — Wed, 03 Jun 2009 20:47:06 GMT

geez, how brilliant can you be; "...need to reduce deficits in the future..." my it took a PhD to figure that out; brilliance coming from a dim light bulb

re: Is Bernanke Nudging Obama on Deficits?

abe4600 — Wed, 03 Jun 2009 21:26:49 GMT

The president had no choice but to deficit spend in order to shore up the economy. If he hadn't make the hard choice to deficit spend in the absence of consumer spending, we'll be talking about depression instead of recession!

re: Is Bernanke Nudging Obama on Deficits?

concernedcolorado — Wed, 03 Jun 2009 22:21:18 GMT

I know liberals like to say "If we don't spend the money now, the world is going to end". The truth is, it's not. We did have strong liquidity issues at the end of last year and those monies where necessary. However, the seemingly endless spending programs and bailouts are getting dangerous.

This administration is actually creating systemic risk instead of diminishing it. But your right the consumer needs to spend money for the economy to come back, but with the current policies in place, that is not going to happen. I am not talking go and blow through your home equity spending. I am talking the normalized spending for good and services that Americans traditionally spend money on. It is the most important portion of our GDP function, but it is currently being replaced by government spending which only gets you pennies on the dollar because the rest is eaten up in inflation costs. It is that inflation which could and right now probably will hamper any true recovery. As soon as people begin to feel a little better about the economy the prices paid for their day to day life is going to go up.

There is a history lesson here that liberals seem to forget-we tried this already, it was called Jimmy Carter.

re: Is Bernanke Nudging Obama on Deficits?

memo2 — Thu, 04 Jun 2009 13:21:14 GMT

Jimmy Carter was the Man who change our economics,money, and our actual future they knew at that time this will be happen any time, the rest was only waste of brains just a bunch of pirates came along to take over with new business and make money just to make any kind of money, untill now most people learn it and still happen no body can stop this people every day we learn how all this people make money from all us with no remords but we also learn of how take care of our selfs watching any dolar we spend, no matter who help them we need to take care of our selfs hard times coming and the only way to survive is to save your money why because no body is going to help you only you and your family !.........

re: Is Bernanke Nudging Obama on Deficits?

memo2 — Thu, 04 Jun 2009 13:44:59 GMT

Mr: Bernanke and Geithner should give up they know as many people advice in January this people will not make it, the problem is Mr:Obama dont want admit he make a mistake are you ever heard he said I make a mistake ? you will not because he never admit any mistake, then we have a problem Mr:Bernanke and all the economist's assisting right now they know this situation can't be fix no matter what they try they will know this can't be fix not in 2010 not in 2012, is ony one way but this administration will not understand it why cause they have no knowledge on how to follow with a good plan ! no to fix it to reverse it ...... Thank-you that is ok any way no body listen ,....

re: Is Bernanke Nudging Obama on Deficits?

skwlastresort — Thu, 04 Jun 2009 14:01:54 GMT

I have complete faith in Bernanke ...... and Obama! Our Country is extremely fortunate to have these two exceptional men in their respective positions. They have one terrible fiscal mess to straighten out, but I believe they are up to the task. Both have unbelievable comprehension levels for complex problems and an uncanny ability to explain themselves and enlighten us.

re: Is Bernanke Nudging Obama on Deficits?

skwlastresort — Thu, 04 Jun 2009 14:17:57 GMT

Our Great Country is very fortunate to have Bernanke and Obama occupying their respective positions. Like most people, I have great confidence in them to lead the cleanup of the economic mess we are in now. Both of them have uncanny abilities to comprehend complex problems as well as to explain them to us. Bernanke may have had some blame in causing some of our economic problems, but what we have learned about his crisis control last September indicates we could have had no better man in charge of the Fed at the time (or now.) Those who are trying to blame Obama now for the financial situation he inherited show a level of ignorance beyond belief.

re: Is Bernanke Nudging Obama on Deficits?

Cincinnati Rick — Thu, 04 Jun 2009 15:29:16 GMT

The price of Bernanke's candor and honesty is likely to cost him a second term at the Fed. This is the first White House since Nixon to have and act on an "enemies" list and woe to anyone who gets in their way!

re: Is Bernanke Nudging Obama on Deficits?

John Dough — Thu, 04 Jun 2009 15:29:20 GMT

Bernacke should more than nudge him he whould knock him on rear end to get his attention!! These deficits are absolutely unnecessary and are placing us in a very precarious situation financially. The Bush deficits were bad enough but he is poised to surpass Bush 8 year deficit in just one year. This must stop it is non-sustainable!!!! Reagan inherited a much worse situation than Obama on every front. He implemented across the board tax cuts and got the economy booming in short order. Obama is using the FDR approach borrow our way out of it. It failed then and it is failing now. Obama has a massive government agenda to control American, business, banking, overtake states rights making the federal government the central controlling authority ie a dictatorship of sorts and Americans for freedom should be gravely concerned about "his agenda."

re: Is Bernanke Nudging Obama on Deficits?

John Dough — Thu, 04 Jun 2009 15:52:47 GMT

Bernacke should more than nudge him he should knock him on his rear end to get his attention!! These deficits are absolutely unnecessary and are placing us in a very precarious situation financially. The Bush deficits were bad enough but he is poised to surpass Bush 8 year deficit totals in just one year. This must stop it is non-sustainable!!!! Reagan inherited a much worse situation than Obama on every front. He implemented across the board tax cuts and got the economy booming in short order. Obama is using the FDR approach borrow our way out of it. It failed then and it is failing now. Obama has a massive government agenda to control American, business, banking, overtake states rights and massive tax increases making the federal government the central controlling authority ie a dictatorship of sorts and Americans for freedom should be gravely concerned about "his agenda."

re: Is Bernanke Nudging Obama on Deficits?

longhorn — Thu, 04 Jun 2009 16:05:57 GMT

Berncke is a stupid, stupid man. Just one the several wallstreeters in Obama's camp out to get all he can get. We need to break the wallstreet connection.

re: Is Bernanke Nudging Obama on Deficits?

longhorn — Thu, 04 Jun 2009 16:06:00 GMT

Berncke is a stupid, stupid man. Just one the several wallstreeters in Obama's camp out to get all he can get. We need to break the wallstreet connection.

re: Is Bernanke Nudging Obama on Deficits?

rpianome1st — Thu, 04 Jun 2009 17:03:23 GMT

Don't judge Mr. Ben Bernanke on this one meeting he has plenty of them to go. Now is the time for all good men to come to the aid of their country. So is it time to rock our President Mr. Barack Obama Bailout plan from judgeing from the comfort (although it might not be exactly accomplished) personally I'd say nope not yet. Mr. Bernanke has pre-formed jobs in the President's upper chaimbers; we don't get very much of a chance to impliment our BIG say towards their plans, and what needs to be done in regards to their duties for Congress. Any given moment Mr. Bernanke could dance with the stars his job to yell wolf seems before hand now that somone is trying to face our crisis that the economy is in great need, I say give it some time everyone is in need of special attention weather its from President Mr. Barack Obama an his white house aids this country is facing a project that has never been faced before Mr. Beranake can deal with his position that part is easy.

re: Is Bernanke Nudging Obama on Deficits?

thinking about consequences — Thu, 04 Jun 2009 18:28:48 GMT

All the incredible spending to try to get us back to an economy that was unsustainable anyway. Just like the mismanagement of Social Security/Medicare by doing nothing will make the future that much worse, so too the misguided attempts to stabilize housing prices, wages, and consumer spending at unsustainable levels through unsustainable deficit spending will make the future adjustments that much more difficult.

When my family and I looked for a place to settle down after completing my military service in 2005-2007, we came upon highly desirable town after otherwise very desirable town where housing prices had exceeded prevailing salaries' ability to support the prices. The same is true of consumer spending - prevailing salaries cannot sustain the spending levels seen in the past decade. And in California - and many other places, especially on the Coasts - salaries were also at unsustainable levels. It's just too easy in the global economy to out-source even skilled jobs if salaries get too high.

Borrowing huge sums from China and our children (via inflation) to stop the reality-based re-adjustment from happening is the most selfish act I have ever seen of our supposedly educated adult population. Like it or not, housing prices won't truly stabilize until they are back to 2-3 times mean household incomes. Like it or not, real salaries will continue downward until they are about 2-3 times what a similarly educated person in India makes. Like it or not, consumer spending eventually has to stabilize at a level equal to income minus interest for debts already incurred. And increasing debt levels means an even lower level of consumer spending when stabilization occurs.

just my 2 cents

re: Is Bernanke Nudging Obama on Deficits?

LMarcT — Sat, 06 Jun 2009 10:56:42 GMT

He will push as he should. Obama will balance the budget as long as and as soon as NO jobs are affected... currently only allowing the $16B cut for that reason. More cuts will come, but to issue a stimulus bill and then immediately make drastic cuts makes no sense at all. The deficit fix comes in second to jobs... without jobs we have no economy and no incoming taxes and no prayer to lower the deficit.

Of course we could have NOT done the stimulus and NOT bailed the banks and AIG and NOT dealt with the toxic assets and NOT helped GM and Chrysler to a smoother bankruptcy and let the economy absolutely tank...THEN balance the budget. We could have spoken well of the conservative process while standing in the bread lines.

re: Is Bernanke Nudging Obama on Deficits?

memo2 — Sun, 07 Jun 2009 12:22:47 GMT

Mr:Bernanke have enough time already since he take over Mr:Alan's job, long story about this with Mr:Bernanke and Mr:Bush we all can take as much time we cut the problem is no much time we have to deal with more experiments, the reason I believe Bernanke and Geithner still there is this administration will not be responsible the only can tell you is why they don't want give the chance to Mr:Alan to Lead this economic team? can you explain it what is the problem to add a person with experience ?.....

re: Is Bernanke Nudging Obama on Deficits?

Jayney — Sun, 07 Jun 2009 20:25:22 GMT

um why is Bernanke just now worried about the budget deficit? why has no one said hey mr obama why are you spending money, billions of dollars, that do NOT exist?! that has not been earned yet? check the constitution to see who is authorized to spend money. why are you forcing us into unsustainable debt? are you trying to bankrupt this country? doesn't take a law degree to figure out the stupidity & treachery of that! what he is doing is illegal & unconstitutional.

while he is living it up like a drunken king on the hard-working tax payers' dime he is preaching to us about sacrifice. A true leader leads by example not by hypocrisy. the obamas need to take a trip out of their make believe world & into reality. this country is headed for economic disaster. does any "leader" in this country have any common sense????