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Beard Of Reasoning Feeling Very Glass-Half-Empty Today

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Fed Chief Ben Bernanke told the Senate Budget Committee today, "'If early and meaningful action is not taken, the U.S. economy could be seriously weakened," in what was regarded as his "most forceful warning to date." When asked about the urgency of the situation, Bernanke offered, "The longer we wait, the more severe the more draconian, the more difficult the objectives are going to be. I think the right time to start was about ten years ago." Apparently, "I think we should all just shoot ourselves now" struck Bernanke as "a bit dour, even for this crowd."
Fed Chief Sends Warning on Budget [AP via NYTimes]