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Bernanke Endorses Obama Stimulus Plan

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Anonymous

Guest
Bernanke Endorses Obama/Democratic Stimulus Plan

After Colin Powell's endorsement of Barack Obama Sunday, it looked like things couldn't get any worse for John McCain on the endorsement score. Well, they just did. Federal Reserve chairman Ben Bernanke has endorsed the economic stimulus plan supported by Obama and the Democrats. Having the Fed chairman say that Obama and the Democrats have the right ideas on the economy will surely be helpful to Obama even if he wasn't named explicitly. President Bush and the Republicans generally oppose the Democratic plan.

http://online.wsj.com/article/SB122455027730552509.html
 

TexasBred

Well-known member
Let's print the whole story Oldtimer:

Ben Bernanke apparently wants four more years as Federal Reserve Chairman. At least that's a reasonable conclusion after Mr. Bernanke all but submitted his job application to Barack Obama yesterday by endorsing the Democratic version of fiscal "stimulus."

AP
Ben Bernanke.
While the Fed chief said any stimulus should be "well targeted," even a general endorsement amounts to a political green light. Mr. Bernanke certainly knows that Mr. Obama and Democrats on Capitol Hill are talking about some $300 billion in new "stimulus" spending, while President Bush and Republicans are resisting. And by saying any help should "limit longer-term effects" on the federal deficit, he had to know he was reinforcing Democratic opposition to permanent tax cuts.

Mr. Bernanke could have begged off -- and would have been wiser to do so -- given how much the Fed has already made itself a political lightning rod with its many Wall Street interventions. He might also have thought twice about endorsing one party's policy preferences a mere two weeks before Election Day given his obligation to preserve the Fed's independence. We can remember when tougher Fed chairmen used to refrain from adjusting interest rates close to an election for fear of seeming to be political; they would never have dreamed of meddling in campaign tax and spending debates.

Perhaps Mr. Bernanke's blunderbuss political intrusion will win him more Democrat friends, and maybe even Mr. Obama's goodwill. To the rest of the world, he has harmed the Fed and made himself less credible.
 
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Anonymous

Guest
In other words Texasbred- the rats are fleeing a ship going down by the bow -eh :???: :wink: :lol: :lol:
 

TexasBred

Well-known member
Oldtimer said:
In other words Texasbred- the rats are fleeing a ship going down by the bow -eh :???: :wink: :lol: :lol:

Nope..to late for that...unless Obama figures "He was good enough for GWB, then he's good enough for me".
 

TexasBred

Well-known member
I'm wondering when it ever became the "Obama Stimulus Package"?? Last I heard it Pelosi's deal. I bet Obama phoned in his co-sponsorship.
 
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