"Is this really the time for Congress to be debating how fast it can cut government spending, rather than how to keep the economic recovery from losing momentum? Is this really the time for Fed Chairman Bernanke to act as though inflation concerns preclude any further monetary stimulus, even though the Fed’s announcement yesterday pointed to the economy’s “low rates of resource utilization, subdued inflation trends, and stable inflation expectations”?"
Ezra Klein commented, "And note that the reduction in government spending was, too some degree, accidental. That’s mostly the Defense Department delaying some investments. If we decide to start cutting spending in a more determined fashion, we’ll learn that that line can dip a lot lower."
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