Hope & Change: Not

Bernanke before Congress today:

Bernanke said improvement in the job market is likely to remain “frustratingly slow,” the same phrase he used a year ago to describe the economy. The Fed’s forecast predicts the unemployment rate will still be stuck above 7% or higher at the end of 2014.

His recommendation?

Bernanke said the most effective way Congress could help support the economy right now would be to address the nation’s fiscal challenges in a way that won’t harm the recovery, but takes into account “long run sustainability” of the economy.

Like that was possible. The Democrats in the Senate, led by Sen Harry Reid, haven’t passed a budget in how long? #asleepatthewheel
Still, better they do nothing than add to the problem any more than they already have.

Advertisements


%d bloggers like this: