andier this month, moody's s&p warned that rising s&p -- rising u.s. that could lead to america losing its grip ball -- triple a rating. in his recent testimony, federal reserve chairman bernanke called for a demonstration of political will to address the long-term fiscal imbalance. he stated, "nobody stated the united states has the incapacity to pay its bills. the question is, do we have the political will to do that. the demonstration of political will is what the markets are watching. is the congress and the administration willing to work together to make progress. at the point where confidence is lost, you can see a relatively quick deterioration in funding to conditions." that all from the chairman of the federal reserve. i hope people are listening. we cannot afford to wait until the markets lose confidence in the conduct of our financial affairs. we need to act and we need to act this year. that does not mean we need to make steep cuts immediately. all of the bipartisan commissions that have come back with recommendations have recommended that

andier this month, moody's s&p warned that rising s&p -- rising u.s. that could lead to america losing its grip ball -- triple a rating. in his recent testimony, federal reserve chairman bernanke called for a demonstration of political will to address the long-term fiscal imbalance. he stated, "nobody stated the united states has the incapacity to pay its bills. the question is, do we have the political will to do that. the demonstration of political will is what the markets are watching. is the congress and the administration willing to work together to make progress. at the point where confidence is lost, you can see a relatively quick deterioration in funding to conditions." that all from the chairman of the federal reserve. i hope people are listening. we cannot afford to wait until the markets lose confidence in the conduct of our financial affairs. we need to act and we need to act this year. that does not mean we need to make steep cuts immediately. all of the bipartisan commissions that have come back with recommendations have recommended that

earlier this month two of the leading credit rating agencies, moody's and s&p, warned again that rising u.s. debt could loot -- lead to america losing its aaa credit rating. if such a thing were to happen, it would be extremely serious for the united states and could set off more global financial tensions. in his recent testimony before the budget committee, chairman bernanke call for red demonstration of political will to address the long-term fiscal imbalance. he stated, nobody doubts the united states has the economic capacity to pay its bills. it is really a question of having the political will to do that. demonstration of political will -- is the congress and the public and the administration able to demonstrate that they are serious and have enough willingness to work together to make progress? at the point where confidence is lost, that is where you can see a relatively quick deterioration in financial conditions. i very much hope that the people of our country and the people of the congress and the administration are listening to chairman bernanke. i believe he has got it just

earlier this month two of the leading credit rating agencies, moody's and s&p, warned again that rising u.s. debt could loot -- lead to america losing its aaa credit rating. if such a thing were to happen, it would be extremely serious for the united states and could set off more global financial tensions. in his recent testimony before the budget committee, chairman bernanke call for red demonstration of political will to address the long-term fiscal imbalance. he stated, nobody doubts the united states has the economic capacity to pay its bills. it is really a question of having the political will to do that. demonstration of political will -- is the congress and the public and the administration able to demonstrate that they are serious and have enough willingness to work together to make progress? at the point where confidence is lost, that is where you can see a relatively quick deterioration in financial conditions. i very much hope that the people of our country and the people of the congress and the administration are listening to chairman bernanke. i believe he has got it just

earl career this month, two of the credit rating agencies, moody's and s&p that rising debt that americaa. rating. if such a thing were to happen, it would be extremely serious to the united states and set off more global tensions. in his recent testimony, federal chairman bernanke called for political will to address the long-term fiscal imbalanceance. he stated, and i quote, nobody doubts that the united states has the economic capacity to pay its bills. it's really a question, do we have the political will to do that. and demonstration of political will, that's what the markets are watching. is the congress, the public and the administration, are they able to demonstrate that they are serious and that they have enough willingness to work together to make progress? at the point where confidence is lost, that is where you could see a relatively quick deterioration in financial conditions. i very much hope that the people of our country and the people of the congress and the administration are listening to chairman bernanke. i believe he has got it just right. we can't afford to wait unt

earlier this month, two of the world's leading credit agencies, moody's and s&p, warned again that rising u.s. debt could lead to america losing its triple a credit rating. such a thing -- is such a thing were to happen, it would be a very serious blow and could set off continuing tensions in the global financial markets. in his recent testimony before the senate budget committee, federal reserve chairman ben bernanke call for a demonstration of political will to address the long-term fiscal imbalances. he stated and i quote, "nobody doubts the united states has the economic capacity to pay its bills. it is really a question -- do we have the political will to do that? and demonstration of political will, that is what the markets are watching. is the administration, are they able to demonstrate they are serious and they have enough willingness to work together to make progress? at the point where confidence is lost, you can see a relatively quick deterioration in financial conditions." that from the chairman of the federal reserve. i hope people are listening. we cannot afford to wait unt