Wednesday, August 17, 2011

Statement on Governor Perry & Bernanke

Governor Perry is now the national leader in the GOP race for the Presidency with 28% of the vote, according to a Rasmussen poll.  He has rocketed by Governor Romney with 18% and Congresswoman Bachmann with 13%.   Congressman Paul had 9%, Herman Cain 6%, Speaker Gingrich 5%, Governor Hunstman 1%, and Senator Santorum 1%.

Governor Perry's despicable charge of treason and a not-funny threat of harm aimed at Fed Chairman Bernanke is a pander to the anti-Fed sentiment motivating many of the supporters of Bachmann, Paul, and Cain. 

Now for a word of support for Bernanke.  Bernanke was appointed by President Bush and reappointed by President Obama, though he is a Republican.  But Bernanke is not drinking the Kool Aid of Austerity Economics that is destroying jobs and contracting GDP, though Greenspan and he can be fairly criticized for enabling too-big-to-fail and not properly regulating subprime lending.

Yet Bernanke is a scholar of the Great Depression.  Once the crisis hit in 2008, he got more right than wrong.  He knows that deflation and falling consumer demand are immediate threats that if not remedied worsen the long-term debt problems of the USA.

Bernanke is a patriot working to save this nation's economy, in the face of destructive action around the debt ceiling and now threats from a Presidential candidate.

Perry lost one race in his career and vowed not to allow ever again anyone to get to his right.  It is hard to not allow Bachmann to get to your right.  But coddling secessionists and hurling charges of treason at the Fed Chairman is one way to get to the right of Bachmann.

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