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Fed Chief Sends Warning on Budget

Updated on January 18, 2007

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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