the tindog coffeehouse

Fed Chairman Ben Bernanke thinks the U.S. should try to cut its budget deficits before Asia completely destroys us with its super economy-rebounding powers.

“As the global economy recovers and trade volumes rebound, however, global imbalances my reassert themselves,” Bernanke warned. For the United States’ part, “the most effective way” to boost national savings in this country “is by establishing a sustainable fiscal trajectory, anchored by a clear commitment to substantially reduce federal deficits over time,” Bernanke said. He didn’t suggest ways to do so.

Bernanke may not have any ideas for how to cut the deficit, but I have a few suggestions. How ’bout no more bailouts for starters? Maybe stop buying banks, auto companies, and insurance companies? Also, we could stop paying people to trade in their old cars. And — call me crazy! — maybe we should abandon plans for a massive, multi-trillion-dollar health care overhaul.

Just a few ideas off the top of my head. You’re welcome.

Previously:
The real ‘death panel’? The federal budget