Posts Tagged ‘Fed Chairman Bernanke’

Fed Chairman Bernanke Advises Maintaining Bush Tax Cuts To Get Us Out Of Ditch

July 24, 2010

Federal Reserve Chairman Ben S. Bernanke said extending at least some of the tax cuts set to expire this year would help strengthen a U.S. economy still in need of stimulus and urged offsetting the move with increased revenue or lower spending.

“In the short term I would believe that we ought to maintain a reasonable degree of fiscal support, stimulus for the economy,” Bernanke said yesterday under questioning from the House Financial Services Committee’s senior Republican. “There are many ways to do that. This is one way.

Bernanke says extending Bush’s tax cuts would help with  economic stimulus. The very tax cuts that Bush implemented to shorten the recession he encountered, is recommended for this current recession.

Bernanke claims extending Bush tax cuts will help get us out of the ditch, while  Obama  claims the Bush tax cuts  drove us in the ditch.