(Huffington Post) Here's something you don't see every day: A Republican-appointed Federal Reserve Chairman telling Congress to spend more money.
Well, not exactly -- but Ben Bernanke on Thursday urged Congress to give him a hand boosting the sluggish economy, which would involve avoiding massive spending cuts and tax increases scheduled to take place at the start of 2013.
The damage this double dose of austerity could do to the economy would likely swamp any stimulus the Fed might be able to throw at it with monetary policy, he warned in response to questioning during testimony before the Joint Economic Committee Thursday morning. In fact, Congress should get on the stick and start doing its part to help the economy now with fiscal stimulus, he suggested.
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