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Bernanke: Debt ceiling only ‘symbolic’
Washington Post, by Ylan Q. Mui

Original Article

Posted By:NorthernDog, 1/14/2013 8:25:22 PM

Federal Reserve Chairman Ben S. Bernanke called on lawmakers Monday to “take care of their job” and raise the nation’s debt ceiling, warning that default could derail the still-fragile economic recovery. In a free-wheeling conversation at the University of Michigan’s Gerald R. Ford School of Public Policy, Bernanke said the debt limit has only “symbolic value” and advocated eliminating it. But he dismissed suggestions that the Fed’s policy of keeping interest rates low is taking pressure off Congress to act. “We’re not going to be playing games with that. We’re going to follow our mandate,”

Comments:
Imagine telling Master Card that your credit limit is ´just symbolic´, and they better give you more money right now.

      


Post Reply  

Reply 1 - Posted by: lylacat, 1/14/2013 8:47:50 PM     (No. 9116713)

The ignorance and arrogance of 0bama and Bernanke is appalling. We simply cannot keep spending; look how well it worked for the EU. How can they be so stuck on stupid?

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Reply 2 - Posted by: King of all trolls, 1/14/2013 9:42:18 PM     (No. 9116809)

This Bernanke is a genius. He can turn paper into gold. The sky is the limit. Who are we to doubt? Debt ceiling? Ha ha ha. Simpletons!

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Reply 3 - Posted by: Davids918, 1/14/2013 11:20:14 PM     (No. 9116916)

What he´s saying is "we have no intention of idea of every paying the debt back".



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Reply 4 - Posted by: Trigger2, 1/15/2013 5:00:01 AM     (No. 9117046)

I imagine printing monopoly money is symbolic too.

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Reply 5 - Posted by: 3XALADY, 1/15/2013 7:26:03 AM     (No. 9117142)

OT but would like to thank Mr. Bernanke for the pretty new bills, in consecutive number order, that DH gets at the bank when he deposits his check.

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