Bernanke Warns About Danger Of Structural Deficit
Jun. 10, 2010
Source: CNBC
Federal Reserve Chairman Ben Bernanke told the House Budget Committee that the U.S. isn't creating enough jobs to pay for all of the people who will retire during the next 20 years. He urged Congress to take decisive action to reduce the structural deficit, because spending cuts and tax reform alone can't close the gap. "Unless we demonstrate a strong commitment to fiscal sustainability in the longer term, we will have neither financial stability nor healthy economic growth," Bernanke said.
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