Fed's Bernanke: fiscal cliff already hurting U.S. economy
Thursday, December 13, 2012 - 01:52
Federal Reserve Chairman Ben Bernanke says the standoff and uncertainty surrounding the ''fiscal cliff'' is already taking a toll on the U.S. economy, before the December 31 deadline for Congress and the White House to strike a deal. (December 12, 2012)
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Clearly this is a major risk factor and a major source of uncertainty about. The economy going forward. In its fiscal cliff is having. -- and the economy. Even though ignited even reached point. The fiscal. Potentially -- and it's already affecting business investment and hiring decisions by creating uncertainty and we're creating pessimism. We saw what happened recently to consumer sentiment which. Fell absolutely in part because of concerns about this. The president tonight really. Deliberate thought yesterday. That we spoke honestly and openly about the differences. Everybody's. The president's -- one point four billion dollars. That cannot pass the house we'll listen to five weeks as we've signaled our willingness. So fortunate remove the president believes government put forth a plan that meets standards. Frankly it's why we don't have an agreement today. Millions of Americans like he did. -- -- -- -- That's 600 million higher taxes slower economy at the higher prices I've seen wages falling weird days away from this booklet another recession. Republicans have put out a responsible balanced and more revenue. Mr. President -- your. The Tea Party house Republicans. Are holding the middle class hostage. Get more tax cuts for millionaires -- congressman Chris Gibson don't write us off the list. This -- and hostage takers don't come to take action. I will work with the Republicans. Ought to plan. For. Economic growth and job creation.
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