Academic

BEN BERNANKE: ?Of course? Congress could cut spending. ?The real story of the deficit is that the ?

By Glenn Reynolds

BEN BERNANKE: “Of course” Congress could cut spending. “The real story of the deficit is that the budget has grown by almost double in the space of 10 years, from $2 trillion in FY2000 to almost $4 trillion today despite inflation being practically nonexistent the entire time. We?re not in deficits because the American taxpayer doesn?t shove enough money into Washington?s Leviathan maw; we?re in deficit because Washington can?t stop spending more and more money.”

Full post as published by Instapundit.com on June 11, 2010 (boomark / email).