“Bail-Out” Bernanke Demands Fiscal Restraint

June 4, 2009 (LPAC)—Sometimes you don't know whether to laugh or cry. Such a moment occurred today when Federal Reserve Chairman Ben Bernanke addressed the House Budget Committee and urged fiscal restraint. Imagine that! Bail-out Ben, whose Fed has spent, lent, and guaranteed trillions of dollars to zombie banks to delay them from suffering the inevitable consequences of the most monumental financial stupidity in history, actually has the nerve to lecture others on fiscal responsibility! Absolutely shameless.

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"Either cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation," Bernanke said. "The Federal Reserve will not monetize the debt." Too bad he doesn't have the same position on the bail-out! More...

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