tag:blogger.com,1999:blog-10424035.post6898485281233079599..comments2023-09-11T08:58:24.710-06:00Comments on Reach Upward: Should We Blame Congress, Rather than the Fed for High Gas and Grocery Prices?Scott Hinrichshttp://www.blogger.com/profile/11831447472339880148noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-10424035.post-65486690110694246102008-05-02T09:10:00.000-06:002008-05-02T09:10:00.000-06:00Kevin, discretionary federal spending has risen fa...Kevin, discretionary federal spending has risen faster under Bush II than at any time in the history of our nation. The Bush II spending increases have even dwarfed the rise during Johnson's Great Society spending. No doubt that the executive branch should bear some of the blame for our economic woes, along with its willing accomplices in the legislative branch.<BR/><BR/>Rep. Ryan is correct when he says that Bernanke has been dealt a bad hand. But Wesbury is also correct when he says that Bernanke has the power to remedy a great deal of the inflation.Scott Hinrichshttps://www.blogger.com/profile/11831447472339880148noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-41909413301006820622008-05-02T09:05:00.000-06:002008-05-02T09:05:00.000-06:00Jesse, it seems to me that short-term legislating ...Jesse, it seems to me that short-term legislating benefits both short-timers and long-timers in Congress. Lots of these people will be out of office by the time the chickens come home to roost on any legislation they vote on. But the long-in-the-tooth guys that are still around can usually spin it into a political opportunity (and probably even a campaign war chest enhaning opportunity).Scott Hinrichshttps://www.blogger.com/profile/11831447472339880148noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-17624874395198157682008-05-02T07:40:00.000-06:002008-05-02T07:40:00.000-06:00Bernanke is in a horrible situation. Congress and ...Bernanke is in a horrible situation. Congress and the Bush administration have been pursuing inflationary spending policies with the idea the Fed could some how save the country from realizing the inflation of their spending.<BR/><BR/>The real problem with all of this is that the forces lined up against the free market will use the misbehavior of Congress in their claims that the free market failed.<BR/><BR/>Unfortunately, McCain gave the world zero reassurance that his adminstration would be any different when he proposed a gas tax vacation.y-intercepthttps://www.blogger.com/profile/03389285761013186443noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-29566191372747936442008-05-01T22:33:00.000-06:002008-05-01T22:33:00.000-06:00Given how long many members of Congress have been ...Given how long many members of Congress have been there, I'm sure they were present for that vote in '78. I know Orrin Hatch was.Jesse Harrishttps://www.blogger.com/profile/11468928702710912142noreply@blogger.com