With millions of dollars handed out to the banks for their bailout people have not been so lucky. While big corporations continue to receive bail out money, people around the country are loosing their homes. Another problem is that there is a risk of deflation as well. Deflation is when the prices of domestic goods fall making it possible to buy more goods with the same less money. Even though Bernanke said we might be at risk it can be avoided if congress focuses on the financial issue. Bernanke refused to comment on the removal of big tax breaks such as the bush tax cuts. He did not want to make any statements on specific actions that congress was planning on making towards those subjects. Although the economy doesn’t seem to be improving there has been some growth in some areas but in the end people are still in the gutter during this major crisis.
Saturday, October 15, 2011
Ben Bernanke
The chairman of the Federal Reserve has made many decisions to improve the economy. Ben Bernanke was chosen by President George W. Bush during his term and was again picked by President Barrack Obama. In the last couple of years the economy has been declining with hundreds of unemployed and homeless.
With millions of dollars handed out to the banks for their bailout people have not been so lucky. While big corporations continue to receive bail out money, people around the country are loosing their homes. Another problem is that there is a risk of deflation as well. Deflation is when the prices of domestic goods fall making it possible to buy more goods with the same less money. Even though Bernanke said we might be at risk it can be avoided if congress focuses on the financial issue. Bernanke refused to comment on the removal of big tax breaks such as the bush tax cuts. He did not want to make any statements on specific actions that congress was planning on making towards those subjects. Although the economy doesn’t seem to be improving there has been some growth in some areas but in the end people are still in the gutter during this major crisis.
With millions of dollars handed out to the banks for their bailout people have not been so lucky. While big corporations continue to receive bail out money, people around the country are loosing their homes. Another problem is that there is a risk of deflation as well. Deflation is when the prices of domestic goods fall making it possible to buy more goods with the same less money. Even though Bernanke said we might be at risk it can be avoided if congress focuses on the financial issue. Bernanke refused to comment on the removal of big tax breaks such as the bush tax cuts. He did not want to make any statements on specific actions that congress was planning on making towards those subjects. Although the economy doesn’t seem to be improving there has been some growth in some areas but in the end people are still in the gutter during this major crisis.
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