In his big speech at Jackson Hole today, Ben Bernanke said that today's weak economy was due not to structural factors, as some conservatives continue to argue, but is "being held back currently by a number of headwinds": by a number of headwinds":
First, although the housing sector has shown signs of improvement, housing activity remains at low levels and is contributing much less to the recovery than would normally be expected at this stage of the cycle.
Second, fiscal policy, at both the federal and state and local levels, has become an important headwind for the pace of economic growth. Notwithstanding some recent improvement in tax revenues, state and local governments still face tight budget situations and continue to cut real spending and employment.
Monetary policy cannot achieve by itself what abroader and more balanced set of economic policies might achieve…The stagnation of the labor market in particular is a grave concern not only because of the enormous suffering and waste of human talent it entails, but also because persistently high levels of unemployment will wreak structural damage on our economy that could last for many years.…Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.The truth is that Bernanke has been saying this for a long time. Today he's saying it a little more plainly: The economy is still weak; the weakness is mostly cyclical, not structural; that means we can do something about it; that "something" should include both fiscal and monetary action; and if we continue stalling we run the risk that our problems really will become structural and nearly impossible to solve.
now American voters you have heard by the right and the news they are obstructing "YOUR PATH TO PROSPERITY", Ryan's does not include you they will usurp your right to "Life, Liberty and the Pursuit of happiness" which is guaranteed to the poor as well as the rich, it's just not in "THEIR" C onstitution you know
In other words, he's telling Congress to quit being so stingy because tight budgets are holding back the recovery, and he's telling his fellow Fed members to stop making excuses and agree to additional monetary easing. Neither one is as effective by itself as they would be together
10 % favorability and that is probably because they voted for themselves. who does America think is bad for them Obama 47% congress 10% favorability you do the math.
