Obama Fed Chairman On Debt: “Trillion There, A Trillion Here… Doesn’t Make Much Difference.”

Obama Fed Chairman On Debt: “Trillion There, A Trillion Here… Doesn’t Make Much Difference.”


Figures.

U.S. Senator Jim DeMint (R-SC) questions President Obama’s Federal Reserve Chairman Ben Bernanke how increasing interest rates will affect U.S. debt payments. Bernanke stated that a 1% increase in interest rates would cause $100 billion per year increase in size of U.S. debt, or $1 trillion in new debt over 10 years. DeMint stated: “That’s real money.” Bernanke responded: “A trillion there, a trillion here… doesn’t make that much difference.”

Same old, same old.

With MANY THANKS To Both SenJimDeMint And YouTube. Watch Video Here:

 

Official portrait of Federal Reserve Chairman ...
Official portrait of Federal Reserve Chairman Ben Bernanke. (Photo credit: Wikipedia)
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