Fed Chairman Ben Bernanke’s recent 60 Minutes interview raised more questions than it answered. Some even questioned the questions. Gary North explained that the Fed chair was being pushed to defend his decision to purchase more government securities in order to stimulate the economy. Interviewer Scott Pelley was at an admitted disadvantage, and failed to ask Bernanke exactly why he thought additional stimulating would work when past stimulations haven’t.
National Review, the putative voice of political conservatism, continues to flack for the Federal Reserve and Fed chief Ben Bernanke's latest round of money magic known as "quantitative easing," or QE2.
Writing in the Wall Street Journal, chairman emeritus of the Hoover Institution, Kurt Hauser, strongly disagreed with the Obama administration’s claim that by raising taxes on just the top two percent of all taxpayers there would be a significant increase in tax revenues to the government. He claimed that Hauser’s Law would limit any anticipated increase in revenues, and it might even reduce them.
White House deficit commission co-chairman Alan Simpson spoke at a Christian Science Monitor roundtable on Friday morning saying, “I can’t wait for the blood bath in April. It won’t matter whether two of us [on the commission] have signed this or 14 or 18. When debt limit time comes, they’re going to look around and say, ‘What … do we do now? We’ve got guys [House freshmen] who will not approve the debt limit increase unless we give 'em a piece of meat, real meat, off of this package.’ And boy the blood bath will be extraordinary.”