"He has my strongest support. I think he's done a good job," Obama told ABC News.
"What we need is somebody at the Federal Reserve who can make sure that the progress that we've made in stabilizing the economy continues. I think Bernanke is the best person for that job," the president said.
The Fed created the problem, threw untold Billions back at their Wall Street Buddies. Bernanke issued a 1.25 Trillion Dollar buyout (That's 1,250 Billion!!!) of Junk Mortgage Paper (More money to the Banks).
The Fed operates in complete secrecy with no oversight from anyone. And that's the secret society that Obama is praising. Take from the people and give to the rich.
Tell the people you are going to crack down on Big Banks, then praise their mouthpiece for doing such a good job.
All the while housing is collapsing; jobs continue to disappear.
Yeah he's dong a bang up job.
Would be nice if the United States actually had a 2 party system instead of one party bought and sold by Bankers.
Obama is a Socialist and a very dangerous man. If you can't see that then perhaps you will enjoy your new life in Socialist America where the Government tells you what you can do and how you can do it and how much you can make and where you can live.
A Budget Surplus is just that. A Budget.
If the Government creates a $2 Trillion Dollar Budget then spends "only" $1.8 Trillion they can claim a "$200 Billion Budget Surplus". It means nothing.
There was still a Gigantic Federal Deficit when Bush took office.
Neither Bush Nor Obama has done anything to reverse the Deficit.
http://blog.heritage.org/2009/03/24/bus … -pictures/
Bernanke was a Bush Appointee and Obama is singing his praises as his own appointee.
The reason you have criminals like Bernanke appointed by both Republicans and Democrats is due to the ONE PARTY SYSTEM - the Invisible Government who pulls the stings of the Presidential Puppets.
The Debt has been accumulating through both Democratic and Republican Presidencies.
Bush spent like crazy, and Obama is one upping Bush.
But this is not the issue.
The issue is Obama praising the very system which created the crash, and gives the Private Bankers huge amounts of money with no penalty for taking ridiculous risks, while at the same time continues to punish the Ordinary Citizen.
Who would you put as an alternative MikeNV? They're basically taking Bernanke because that's who they know, they don't know anyone else.
I wouldn't put anybody in. I would get rid of it completely.
The reason the economy has accelerated to this level is the apathy and the ... well what can you do about it mentality.
40,000 new laws went into effect this past year.
58% of people getting the bulk of their income from Government right now. 67% by 2010.
The Government has proven unable to manage anything efficiently.
And people say... oh well what can we do.
What you can do is fight for change or embrace the otherwise impending Socialism.
by James Smith5 years ago
http://www.unelected.org/audit-of-the-f … t-bailouts"What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere...
by tobey1005 years ago
Over $14 trillion in deficitApproximately 99% debt to GDP ratioCan you spell depression?Credit rating downgrade9% unemployment20% real unemploymentGas prices skyrocketFood prices skyrocketClothing prices skyrocket1...
by Sophia Angelique4 years ago
From Forbes Magazine.http://www.forbes.com/sites/rickungar/2 … ack-obama/Quote: "So, how have the Republicans managed to persuade Americans to buy into the whole “Obama as big spender” narrative? It...
by logic,commonsense6 years ago
Read an article on MSN that the projected deficit for this year is 1.5 trillion dollars. Makes bush look like a piker with his measly 3-400 billion dollar deficits.Course there will be those that forget that bush...
by Ralph Deeds4 years ago
"... Mr. Summers, 58, is a provocative figure among key Democratic constituencies. He was a chief architect of financial deregulation during the Clinton administration and later resigned the presidency of Harvard...
by Gary Anderson6 years ago
I have been watching the Yahoo boards and people are furious at the Republicans, especially the Tea Party. They are getting the lion's share of the blame for the debt downgrade. Here's why:1. Obama wanted a grand plan....
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.