October 23, 2005
“As a member of the House Financial Services Committee, I'm very conscious of Mr. Greenspan's many significant contributions, and I would like to thank him for his service.
“Any new chair will face a difficult task, not only in filling Mr. Greenspan's shoes, but with the economy. Inflation is on the rise, and the cost of the war in Iraq along with the Republican tax cuts are resulting in huge deficits.
“Mr. Greenspan recognized that our current course of deficit spending is unsustainable. I hope that Mr. Bernanke shares those views, and that his nomination process offers an opportunity for a real debate on our nation's economic priorities.”
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Barbara Lee’s Statement on the Nomination of Ben Bernanke for Fed Chair
(Oakland, CA) – Congresswoman Barbara Lee (D-Oakland) released the following statement today on the nomination of the chairman of the President's Council of Economic Advisers, Ben Bernanke for the position of Chairman of the Federal Reserve:“As a member of the House Financial Services Committee, I'm very conscious of Mr. Greenspan's many significant contributions, and I would like to thank him for his service.
“Any new chair will face a difficult task, not only in filling Mr. Greenspan's shoes, but with the economy. Inflation is on the rise, and the cost of the war in Iraq along with the Republican tax cuts are resulting in huge deficits.
“Mr. Greenspan recognized that our current course of deficit spending is unsustainable. I hope that Mr. Bernanke shares those views, and that his nomination process offers an opportunity for a real debate on our nation's economic priorities.”