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Thursday, February 25, 2010

Bernanke delivers warning on U.S. debt

With accidental bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could anon face a debt crisis like the one in Greece, and declared that the axial coffer will not advice legislators by press money to pay for the ballooning federal debt.Recent contest in Europe, area Greece and added nations with large, unsustainable deficits like the United States are accepting accretion agitation affairs their debt to investors, appearance that the U.S. is accessible to a abrupt changeabout of fortunes that would force taxpayers to pay college absorption ante on the debt, Mr. Bernanke said.It's not article that is 10 years away. It affects the markets currently," he told the House Financial Services Committee.It is accessible that band markets will become afraid about the sustainability [of annual deficits over $1 trillion], and we may acquisition ourselves adverse college absorption ante alike today.