Ben Bernanke actually said...

Broadly speaking, fiscal policy both at the Federal and the State and local level is now contractionary.

Bernanke discusses the contractionary effects of fiscal policy on economic recovery.

07/17/2012

More Ben Bernanke Quotes

So if you raise taxes during a recession, you probably want to offset it with a tax cut elsewhere, for example.

One of the last decisions businesses make is new employees and a commitment to new employees.

The historical experience is that the labor market tends to lag the business cycle.

They will get extra income.