Tuesday, November 01, 2005

Bernanke a Great Pick for the Fed

The Washington Post had some humorous confusion about Ben Bernanke in a column earlier this week:

"
Tug-of-war begins on Bernanke's political voice

WASHINGTON (Reuters) - A quiet tug-of-war has begun over the role presumptive future Federal Reserve chief Ben Bernanke will play in Washington budget debates, with both conservatives and liberals hoping he'll be one of their own. Conservatives express confidence that Bernanke, if confirmed by the Senate to succeed Alan Greenspan next year, will do nothing to upset the Bush administration's apple cart when its comes to its tax-cutting agenda.
"

Hmmm...rest assured libs, Bernanke will not be one of you. First, he has an understanding of economics. He supports trade with other nations. He does not support price controls. He knows that targeted tax cuts can bring in
*more* revenue. To the best of our knowledge, he's never killed any young, female staffers or been a Klan recruiter. Your best hope is that he turns out to be an Islamofascist sympathizer, but even that's highly improbable. Simply, Bernanke is also respected and even potty-trained. Rest assured, liberals, he won't be "one of you".

1 comment:

Nick D. said...

I don't understand how tax cuts (supply side economics) can still be a relevant option. There is absolutely no hard evidence for it working in the US. It's a terrible mistake that gives the richest 1% tons of tax relief while undercutting important social welfare programs. If we had enough of a tax base we could have something like a socialized heathcare system that would save the US billions each year in medical bills currently filtering through HMO’s and insurance agencies. (yes, I did say the word “socialized”.) I don't understand why taxes are such a terrible thing when our public services come from taxation. Where would our roads and schools and police be without taxes? Taxes build infrastructure and help to support that infrastructure. Also, if Bush is doing such a great job handling our economy, why is the budget deficit larger than it has ever been in history? Our economy is hurting right now and all Bush can do is cut taxes? This seems pretty fiscally irresponsible to me.