Bernanke calls for fiscal retrenchment
Ben Bernanke, the chairman of the Federal Reserve, on Wednesday warned the US government its budget deficit could worsen dramatically if it failed to address the rising costs of health care and an ageing population.
Speaking to the Committee on the Budget in the US House of Representatives, Bernanke said: "Our nation's fiscal position has deteriorated appreciably since the onset of the financial crisis and the recession. However, even after economic and financial conditions return to normal, the
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