Benny boy was at it again today. Sporting yet another one his pimped out monochromatic suits, Bernanke electrified the House Budget Committee today with an impressive stand up routine focused on deficit reduction. One liners such as "Unless we demonstrate a strong commitment to fiscal sustainability in the longer run, we will have neither financial stability nor healthy economic growth" were a bit of a departure from Uncle Ben's more bread and butter material on green shoots, and there were some hecklers who tried to throw Bernanke off his game. Republican Paul Ryan momentarily quieted the raucous crowd with some lunatic fringe thinking.
"The Treasury is issuing debt and the central bank is buying it," Ryan told Bernanke.
"It gives the alarming impression that the U.S. one day might begin to meet its financial obligations by simply printing money."
So printing money to pay off debt is a problem for Mr. Ryan. What is this nut job going to demand next? A stable currency? Perish the thought.