Fed Chief Sends Warning on Budget

Federal Reserve Chairman Ben Bernanke

Federal Reserve Chief, Ben Bernanke, warns on budget

Federal Reserve chief, Ben Bernanke warned today 1-18-07 that Congress is overdue on dealing with projected Medicare and Social Security deficits. He said that Social Security and Medicare costs will grow from 8.5% of the economy by 2015 and 30 percent by 2030 and will create a drag on economic growth.

http://www.nytimes.com/2007/01/18/business/18cnd-bernanke.html?hp&ex=1169182800&en=7eaff4e789ff9e99&ei=5094&partner=homepage New York Times breaking news 1-18-06 article by Steven R. Weisman

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