Unemployment. Biggest ProblemSubmitted by Grunden Financial Advisory, Inc on February 26th, 2010
Testifying before Congress today, Fed Chairman Mr. Bernanke confirmed that unemployment is the “biggest problem” facing our economy according to the Wall Street Journal (Bernanke Stresses Need for Low Rates). The market overlooked the negative 11.2% new home sales and weighed in positively on Mr. Bernanke’s remarks of the need for continued low rates.
Second biggest problem (in our judgment) is cutting government spending. Tough to do but must be done. Write or call your Congressman to stand firm for reduced spending and budget deficit reduction. Higher interest rates in the future loom large if we don’t cut spending and apply to budget deficits.
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