Day: February 16, 2010

Bennet Pushes For Reconciliation On Public Option

Michael Bennet (D-CO), Kirsten Gillibrand (D-NY), Sherrod Brown (D-OH) and Jeff Merkley (D-OR) have signed a letter to Harry Reid asking for a public option to be brought before the full Senate under budget reconciliation rules because it will save BILLIONS according to CBO projections.  How often has the government been right about their projections, and what is $25 Billion compared to the trillions of red ink we are now buried under? Correct me if I am wrong, but doesn't his terminology suggest that a reconciliation package is already in the works even though the White House is doing the…
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Kansas City Fed Chief Warns Against Growing Debt

US DEBT CLOCK From FT: Lone voice warns of debt threat to Fed The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation. Mr Hoenig said that rising debt was infringing on the central bank’s ability to fulfil its goals of maintaining price stability and long-term economic growth. “Stunning” deficit projections were putting political pressure on the Fed to keep interest rates low, infringing on its independence at the risk of inflation, he said. “Without…
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