Fed Chairman Ben Bernanke's testimony before the Senate Banking Committee this morning and President Obama's upcoming speech were discussed thoroughly on News Talk Online on Paltalk.com today.
Producer Boaz Frankel in California says he was happy to see members of the committee asking tough questions of Bernanke. "I'm glad to see the committee has used a policy of scrutiny," he said. But he says Bernanke's pronouncement that the recession could come to an end by the close of this year may be misleading. "This whole process may be creating a false sense," he said, of optimism. And he was disappointed that Bernanke couldn't say how much more money will be needed to stimulate the economy. "People," he said, "want to know numbers."
Political correspondent Alan Jasie in New York, however, thought Bernanke delivered exactly the right message. He believes the president should follow his lead. "Obama," he says, "needs to speak to the nation tonight ... (offering) some hope."
But Jeff in Tennessee fears Bernanke was sugar coating the reality. "I don't think we're in a recession," he said. "I think we are in the beginnings of a depression. We are losing more jobs than the government can create." Jeff believes the economic stimulus package is just delaying the inevitable, and that the American economy will have to completely collapse before something better can be built in its place.
Dari in Connecticut called Bernanke's predictions a "pep talk." She says we've been through less turbulent economic times and that it took much longer to get out of them. "The economic crisis of the '80's certainly wasn't as bad as today," she said, "and it took many years to get over that."
But Rachel in Louisiana says Bernanke's job today was an effort to calm and create a sense of security with investors. Obama should follow the Fed chairman's lead tonight. "If not," she says, "we could go into an economic and emotional depression."
Eric in Iowa, however couldn't believe how upbeat Bernanke was. "I was hoping at the end they would be playing 'Don't Worry, Be Happy,'" an appropriate theme song, Eric believes, for his appearance.