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Bernanke to Congressman: It's Your Job


In a revealing moment before the House Budget Committee hearing yesterday, Federal Reserve Chairman Ben Bernanke had to inform liberal freshman Rep. Gerry Connolly (D-Va.) that it was the job of Congress to cut the budget.

During his questioning of Bernanke, Connolly complained that Republicans didn’t favor tax increases — they want to cut spending to reduce the deficit.

REP. GERRY CONNOLLY:  I’m telling you they don’t have an open mind.  They have publicly said they’re all for deficit reduction as long as long as anything having to do with revenue is off the table.  Can we get to serious deficit reduction — change that trajectory you talked about if we eliminate half of the ledger sheet?

CHAIRMAN BEN BERNANKE:  Well, theoretically you could if you cut enough but it would be very difficult to do that.

CONNOLLY:  Is there enough spending to be cut?

BERNANKE:  Of course. 

CONNOLLY:  National defense?  Homeland security? 

BERNANKE:  That’s your judgment.  That’s the Congress’ judgment.  That’s not my judgment.

CONNOLLY:  Uh-huh.  It must be nice to be an economist.

If Connolly thinks being a Congressman is really hard, I’m sure businessman Keith Fimian, winner of Tuesday’s Republican primary in Virginia’s 11th Congressional District would be happy to step up to the plate to make the tough budget-cutting decisions.