It seems more appropriate, given the close relationship between the Federal and State governments, for that to be the locus of addressing those issues.
Editor's note · Context
Bernanke emphasizes the role of Congress in addressing state and local fiscal issues.
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My concern is about defaulting on the debt, and for me that is a very high priority so a debt prioritization bill would help on that count very much.
As I have said many times, I think that fiscal policy is focusing a bit too much on the short run, and not enough on the long run.





