On the recordJune 6, 2012
We cannot allow the European austerity model and allow growth to just continue to fail.
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congress.govWe cannot allow the European austerity model and allow growth to just continue to fail.
Bernanke warns against adopting European austerity measures that hinder growth.
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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.
Large deficits in debt over a long period of time raise interest rates above levels where they normally would be and crowd out private investment and are bad for growth and productivity.