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Friday, June 11, 2010

Dem Rep Gets Lesson In Budget Cuts From Ben Bernanke

Video H/T Hot Air and Liberty Central:

Hot Air:

The first thing law schools teach litigators is to not ask questions without knowing the answer. Rep. Gerry Connolly (D-VA) never went to law school — and it shows in this exchange from Wednesday between himself and Ben Bernanke, the Fed chair, who was testifying on Capitol Hill. Connolly wanted to slap at his Republican colleagues who want spending cuts to bring the budget into balance by getting Bernanke to say that there isn’t enough money in the budget to cut, and that revenue has to be increased to end deficits. Unfortunately, as Liberty Central notes, Connolly got broadsided by Bernanke, who responded that “of course!” the budget could get cut — if Congress would just do it:

Liberty Central:

This video is from a June 9, hearing of the House Budget Committee. Congressman Gerry Connolly (VA) appears to be trying to score rhetorical points. He wants to ‘smear’ conservatives who oppose new tax increases, by suggesting that it’s bad to favor only spending cuts in order to achieve a balanced budget. And Connolly apparently does not know that Congress actually has the power to make budget decisions. Instead, he seems to seek a reassurance from Fed Chairman Bernanke that no, Congress cannot cut spending.

After being handed his own ass, Connolly flippantly replies, "Must be nice to be an economist."