On the recordMarch 2, 2009
I think it is an enormous problem. I think we have learned it is a bigger problem than we thought it was.
Source
congress.govI think it is an enormous problem. I think we have learned it is a bigger problem than we thought it was.
Bernanke acknowledges the severity of the 'too big to fail' issue.
Share & report
More from Ben Bernanke
It would be very concerning for financial markets and, I think, for the general public if the United States didn't pay its bills.
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.
The economy needed help from Congress--if not from additional spending (on roads and bridges for example), then at least in areas such as retraining unemployed workers.
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.