Republican leaders to Ben Bernanke: No more stimulus

[flpoljunkie]

Republicans are making it all too plain, they are willing to sink the economy in order to position themselves for 2012 and make Barack Obama a one-term president. Some might call this 'treasonous.'

No more stimulus, Republican leaders say
By JOSH BOAK
9/20/11

Republican House and Senate leaders told Federal Reserve Chairman Ben Bernanke to “resist further extraordinary intervention in the U.S. economy,” saying in a letter sent Monday that steps intended to boost growth might actually make things worse.

The letter represents an audacious move against a central bank that prizes its political independence yet has become a source of controversy for some as the country stumbles out of the 2008 financial crisis.

House Speaker John Boehner, Majority Leader Eric Cantor, Senate Minority Leader Mitch McConnell and Arizona Sen. Jon Kyl all object to a recent Fed policy that flushed $600 billion into the economy, a move they warned should not be repeated following a Fed committee meeting slated to end Wednesday afternoon.

Earlier this year, the Fed attempted to spur growth by purchasing U.S. Treasury bonds from banks by using $600 billion worth of electronically created funds. It also employed a similar maneuver — known as quantitative easing — to buy $1.25 trillion of mortgage-backed securities.

more...

http://www.politico.com/news/stories/0911/63986.html

[marmar]

1. “resist further extraordinary intervention in the U.S. economy,”

Translation: "Stop interfering while we crash it."

[flpoljunkie]

2. Indeed!

[Cirque du So-What]

3. Bernanke to repukes in Congress: 'you are not the boss of me!'

The Fed is independent within government and supposedly insulated from the political bullshit these fuckheads are attempting. Hang tough, Bernanke & Board of Governors!

[Inuca]

4. As long as he does not go to Texas

he should be safe (with apologies to all the good texans out there).

[Andy823]

5. It simply insane

They keep on proving that they only want on thing, do defeat president Obama next year and they don't give a damn if they tank the whole country in the process! They have their brain dead base drooling, but the rest of the country is not on the bad wagon with them. To many people are out of work, to many people need help, and the republicans have not done one single thing to help them since they took control of the house, not one bill to create jobs. On the other hand they have done their best to "KILL" jobs in this country. The continue to fight any progress on jobs, any progress in fixing the economy, and all so they can gain control of this country and then turn it into a third world two class system with the rich running things while everyone else fight so survive!