February 26th, 2013
11:07 AM ET
1 year ago

Bernanke warns Congress it could hurt economic rebound

Washington (CNN) – The economy is expanding again, Federal Reserve Chairman Ben Bernanke told Congress Tuesday, but he warned that what lawmakers do about the looming forced budget cuts could slow the upward trend.

The economy has picked up after an unexpected fourth quarter 2012 when growth was close to zero, he said in his twice-a-year report on monetary policy.

FULL STORY

Filed under: Ben Bernanke • Congress • Debt • Deficit
soundoff (32 Responses)
  1. Sniffit

    GOP/Teatroll response: "Duh. That's a feature, not a bug."

    February 26, 2013 11:20 am at 11:20 am |
  2. Dutch/Bad Newz, VA

    It shouldn't take the Fed Chair to scare the living BeJesus out of us for Congress to do their dam job and pass something. These manufactured crisis are irresponsible. You can bet your bottom dollar that come the midterm elections, there's going to be hell to pay republicans. You've got republican governors telling congressional republicans to COMPROMISE!!! The President is in my city of Newport News today because if these cuts go into effect, many of the workers at Newport News Shipyard are going to be laid off. I don't think republicans realize the seriousness and the damage these cuts will cause. Newport News Shipyard employs majority of people in Newport News. Gov. McDonnell knows this, why doesn't Congress?

    February 26, 2013 11:25 am at 11:25 am |
  3. Gurgyl

    Horrible congress in modern history–needs term-limits.

    February 26, 2013 11:28 am at 11:28 am |
  4. Joi Gibson

    This apparently does not matter to some in Congress – which is really sad. This is not the time to "make a point." Peoples lives are being played with and nothing should be done that would endanger this fragile recovery.

    February 26, 2013 11:32 am at 11:32 am |
  5. Deb in MT

    As if the GOP/TPers in Congress give a rip about the economy: the House GOPers' districts are thoroughly gerrymandered to guarantee that they continue to win those seats, despite the treasonous damage they inflict on the rest of us. They. Do. Not. Care.

    750,000 lost jobs in a fragile recovery? They. Do. Not. Care.

    Furloughs of food safety inspectors that result in contaminated food poisoning our families? They. Do. Not. Care.

    Furloughs of TSA employees that result in longer lines and lax inspections? They. Do. Not. Care.

    Loss of air traffic controllers that could threaten the safety of the flying public? They. Do. Not. Care.

    Loss of funds for natural disaster recovery assistance? They. Do. Not. Care.

    Massive layoffs of teachers, police (and other first responders)? They. Do. Not. Care.

    As long as their seats are 'safe', they will not care a bit about the thousands of lost jobs, the increased riskd to our safety & well being, or the loss of essential services that keep our nation from falling backward into third world status.

    And–when the GOP/TPers tire of the House–they'll retire to some plum job as a lobbyist or at a Conservative 'think tank' : nice work, if you can get it.

    Fie on the lot of them!

    February 26, 2013 11:40 am at 11:40 am |
  6. Larry in Houston

    it's not only going to hurt the economic rebound, but Boehner's right, when he said come 2014, they will be anniliated. Guess he is one of the few who knows what's going to happen in 2014. He thinks Obama is doing it, but in reality, Congress is doing it to themselves.

    February 26, 2013 11:42 am at 11:42 am |
  7. Ozzie

    Which is exactly what Republicans want.

    February 26, 2013 11:42 am at 11:42 am |
  8. yanni

    GOP is crazy mad don't listen to anyone. At this point and time they could do more damage than what is pending God help us all.

    February 26, 2013 11:42 am at 11:42 am |
  9. Wake up People!

    Dude. Where have you been the last 4 years??? That is exactly what the GOP wants. Anytime people are salivating, hoping for bad job reports, having w&t dreams when the unemployment rate goes up and one of your members quoted as saying, their main goal is to make the POTUS a one term POTUS, there is nothing left to say. These same people that claim to be so patriotic, have no problem throwing 99% of America under the proverbial bus.

    Hats off to the republikkkan party.....

    February 26, 2013 11:43 am at 11:43 am |
  10. Dominican mama 4 Obama

    but he warned that what lawmakers do about the looming forced budget cuts could slow the upward trend.
    -------------------------------------------------
    Music to Republican's ears!

    February 26, 2013 11:45 am at 11:45 am |
  11. Linc

    It came from the White House. If he did not want it he should not have proposed it. Nothing has been more damaging to America's economic health than our pathetic President. He is the weakest and divisive leader in a lifetime. He will be out today like every day campaigning with this standard fare of thuggery, blame, and outright lies.

    February 26, 2013 11:59 am at 11:59 am |
  12. Rick McDaniel

    He is just singing the Obama song.

    February 26, 2013 12:02 pm at 12:02 pm |
  13. Rudy NYC

    I think most of the slowdown in the 4th querter was due in large part to Hurricane Sandy. There was a lot of lost productivity on the east coast. Many business who lost power and had it restored by one week later were the exceptions.

    February 26, 2013 12:05 pm at 12:05 pm |
  14. julie

    at this point folks I truly believe the repubs are so driven by hate for the president, that they just don't give a damn about their actions or lack there of–and just run this counrty into the ground over their unyeilding hate–they could care less were we end up as a counrty, so we watch them turn on each other screw the counrty all in the name of HATE....look like HATE is running our counrty at least as far as repubs are concerned................so so sad just sad

    February 26, 2013 12:27 pm at 12:27 pm |
  15. Wake up People!

    @Linc. You sure have your rhetoric down don't you. First you refer to our duly elected POTUS as weak, then you call him "thuggish". Well which is he?? You do know you can't be both don't you?
    But he's divisive....I guess I shouldn't expect much from the party that blames the $laves for $lavery.......

    February 26, 2013 12:28 pm at 12:28 pm |
  16. Malory Archer

    Little touchy today, eh mods? Yet if I made a few not so veiled racist comments about the President & First Lady not only would my comments NOT disappear before they could even await moderation, they'd be posted instantly.

    February 26, 2013 12:31 pm at 12:31 pm |
  17. Guest

    Liberal ignorance knows no bounds. I'm amazed that they stand before Americans and perpetuate lie after lie yet so many of you still bite ...

    February 26, 2013 12:31 pm at 12:31 pm |
  18. julie

    @ Deb in MT add to your list 2.1 million federal workers (country wide) furloughed.....

    February 26, 2013 12:32 pm at 12:32 pm |
  19. Malory Archer

    Yeah, that's what I thought.

    February 26, 2013 12:33 pm at 12:33 pm |
  20. Malory Archer

    Guest

    Neocon ignorance knows no bounds. I'm amazed that they stand before Americans and perpetuate lie after lie yet so many of you still bite ...

    FIFY!

    February 26, 2013 12:34 pm at 12:34 pm |
  21. Linc

    Wake up People!

    @Linc. You sure have your rhetoric down don't you. First you refer to our duly elected POTUS as weak, then you call him "thuggish". Well which is he?? You do know you can't be both don't you?
    But he's divisive....I guess I shouldn't expect much from the party that blames the $laves for $lavery
    __________
    Oh you can be both. He has perfected it. Get out of here with the slavery idiocy. It was the worst thing that this country ever did and everyone knows it but you liberals who like you use it as some kind of racist banter for bashing those who you dislike.

    February 26, 2013 12:35 pm at 12:35 pm |
  22. Malory Archer

    Linc

    It came from the White House. If he did not want it he should not have proposed it.
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    However, the rethugs didn't have to act on it. Did the President threaten crybaby with dirty pictures? Of did he hypnotize him, forcing him sign it? Your comment just makes you look pathetic. The rethugs could have just continued the status quo of sticking their fingers in their ears, stomping their little feet and screaming "no". But nooooooo, they were sooooooo sure the also-ran was going to win and they would be able to abolish EVERYTHING that they put it down on paper and now they have to live with their foolishness!

    February 26, 2013 12:39 pm at 12:39 pm |
  23. Larry in Houston

    LOL – Perry won't have to advertise in Calif. anymore, when the cuts take place – 'ol Perry has got TV ads running in the states that are litterly in the red, and asking Businesses to come to Texas, saying that they will do good & etc, because there isn't any state taxes & etc. – Don't know how & why they do it down here, they've got the idiot Cruz – & the 4th term Perry – lol – – guess we've got some jokers down here.

    February 26, 2013 12:41 pm at 12:41 pm |
  24. Sniffit

    "750,000 lost jobs in a fragile recovery? They. Do. Not. Care."

    Well, to be fair, they care...they care so much that they have talking points and ad scripts already written for blaming Obama for the 2nd recession and a spike in unemployment. As I said, it's all part of their plan. They care about their plan very much.

    February 26, 2013 12:44 pm at 12:44 pm |
  25. Rudy NYC

    Linc wrote:

    "...But he's divisive....I guess I shouldn't expect much from the party that blames the $laves for $lavery."

    Oh you can be both. He has perfected it. Get out of here with the slavery idiocy. It was the worst thing that this country ever did and everyone knows it but you liberals who like you use it as some kind of racist banter for bashing those who you dislike.
    ---------------
    Blaming slaves for slavery is a quote from a House Republiican. There are a lot of extremists in Congress.
    "Gangsta President" "Welfare President"
    "He's not one of us." "...take our country back."
    Do I really need to continue to drag the Republican Party through its' own pig pen?

    February 26, 2013 12:45 pm at 12:45 pm |
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