Fed Chairman Bernanke: Recession likely if Congress doesn't act

Federal Reserve Board Chairman Ben Bernanke testifies on Capitol Hill in Washington on June 7, 2012. The Federal Reserve is meeting Tuesday, June 19, 2012, at a time of high alert over the slumping U.S. economy. (AP Photo/J. Scott Applewhite, file)

Federal Reserve Board Chairman Ben Bernanke testifies on Capitol Hill in Washington on June 7, 2012. The Federal Reserve is meeting Tuesday, June 19, 2012, at a time of high alert over the slumping U.S. economy. (AP Photo/J. Scott Applewhite, file)

WASHINGTON — Federal Reserve Chairman Ben Bernanke sketched a bleak picture of the U.S. economy Tuesday — and warned it will darken further if Congress doesn't reach agreement soon to avert a budget crisis.

Without an agreement, tax increases and deep spending cuts would take effect at year's end. Bernanke noted what the Congressional Budget Office has warned: A recession would occur, and 1.25 million fewer jobs would be created in 2013.

The Fed is prepared to take further action to try to help the economy if unemployment stays high, he said. Bernanke didn't signal what steps the Fed might take or whether any action was imminent. And he noted there's only so much the Fed can do.

But the Fed chairman made clear his most urgent concern is what would happen to the economy if Congress can't resolve its budget impasse before the year ends.

Cuts in taxes on income, dividends and capital gains would expire. So would this year's Social Security tax cut and businesses tax reductions. Defense and domestic programs would be slashed. And emergency benefits for the long-term unemployed would run out.

All that "would greatly delay the recovery that we're hoping to facilitate," Bernanke said near the end of two hours of testimony to the Senate Banking Committee.

Bernanke was giving his twice-a-year report to Congress on the state of the economy. He will testify Wednesday before the House Financial Services Committee.

The economy is growing modestly but has weakened, Bernanke said. Manufacturing has slowed. Consumers are spending less. And job growth has slumped to an average of 75,000 a month in the April-June quarter from 226,000 a month from January through March. The unemployment rate is stuck at 8.2 percent.

Bernanke noted that the economy, after growing at a 2.5 percent annual rate in the second half of 2011, slowed to roughly 2 percent from January through March. And it likely weakened further in the April-June period.

Congress needs to resolve its impasse well before the year ends, Bernanke said.

"Doing so would help reduce uncertainty and boost household and business confidence," he said.

The cuts that would kick in next year could cost as many as 2 million jobs, a trade group that represents manufacturers said in a report released Tuesday. The report came from the Aerospace Industries Association.

A separate report Tuesday pointed to the budget crises many states are suffering, caused in part by shrinking revenue from the federal government. States are finding it harder to pay for basic services such as law enforcement, local schools and transportation, the report said. It was issued by the State Budget Crisis Task Force, a non-profit co-chaired by former Federal Reserve Chairman Paul Volcker and former New York Lieutenant Governor Richard Ravitch.

Republicans in Congress are demanding deeper spending cuts while extending income tax cuts for everyone. Democrats want to extend the tax cuts for middle- and lower-class Americans. But they want them to expire for people in the highest-income brackets.

Bernanke stopped short of telling Congress what steps to take. He challenged them to think broadly.

"Congress is in charge here, not the Federal Reserve," he said.

The economy's challenges go beyond the budget impasse, Bernanke said. Lawmakers must also produce a long-term plan to shrink federal budget deficits. Otherwise, he said the United States could eventually suffer a financial crisis marked by rising interest rates. Consumers and businesses would have to pay more for mortgages and many other kinds of loans.

"It would be very costly to our economy," Bernanke said.

Stocks rose sharply despite Bernanke's grim assessment. The Dow Jones industrial average climbed more than 90 points, and broader indexes also gained.

The Fed chairman also said Europe's debt crisis poses a serious threat to the U.S. economy. He said the Fed has been working with U.S. banks to ensure they've taken steps to prepare for a crisis.

"Although I have every hope and expectation that the European leaders will find solutions, there is a risk of a more serious financial blowup," Bernanke said.

Investors had hoped Bernanke would signal another round of bond purchases, to drive down long-term interest rates and encourage more borrowing and spending. But they seemed to shrug off the downbeat outlook and focused on stronger earnings reported by Mattel, Coca-Cola and other big companies.

At least one senator implored Bernanke to take action now.

"Given the political realities of this year's election, I believe the Fed is the only game in town," Sen. Charles Schumer, D-N.Y., said. "I would urge you, now more than ever, to take whatever actions are warranted."

"So get to work, Mr. Chairman," Schumer added.

Even if the Fed announces another round of bond purchases, some economists question how much it might help. They note that mortgage rates and other key borrowing rates are already at record lows.

The economy was already sputtering when the Fed's policymaking committee last met June 19-20. At that meeting, the Fed decided to extend a program that shifts its bond portfolio to try to lower long-term interest rates. The Fed also reiterated its plan to keep its key short-term interest rate near zero until at least late 2014.

Minutes of the June meeting show that Fed officials were open to taking further action — but were divided over whether the economy needs help now.

Former Fed official Roberto Perli, managing director at the research firm International Strategy & Investment, doubts the Fed will take action at its next meeting July 31-Aug. 1, preferring to wait for more evidence of where the economy is headed.

But if growth and job creation continue to weaken, he says, Fed policymakers might unveil another round of bond purchases at its Sept. 12-13 meeting.

Posted earlier:

WASHINGTON — Chairman Ben Bernanke could offer some clues about whether the Federal Reserve is poised to take another step to jolt the sluggish U.S. economy when he appears before Congress this week.

Bernanke will give his semiannual report to the Senate Banking Committee on Tuesday and to the House Financial Services Committee on Wednesday. His testimony comes as job growth has slumped, manufacturing has weakened and consumers have grown more cautious about spending.

Investors are hoping Bernanke will signal another round of bond purchases is in the offing. The purchases seek to push down long-term interest rates and encourage more borrowing and spending. The first two rounds triggered powerful rallies in the U.S. stock market.

The economy was already sputtering when the Fed's policymaking committee last met June 19-20. At that meeting, the Fed decided to extend a program that shifts its bond portfolio to try to lower long-term interest rates.

Minutes of the June meeting show that Fed officials were open to taking further action — but were divided over whether the economy needs help now.

Since then, the government has reported that job growth slowed sharply in the April-June quarter — to 75,000 a month from 226,000 a month from January through March. The unemployment rate stayed at 8.2 percent in last month.

More dismal news arrived Monday. Retail sales fell in June for the third straight month, the government reported. The International Monetary Fund shaved its estimate for global and U.S. growth for this year and next. And the IMF warned that Europe's financial crisis and a potential budget crisis in the United States could slow world growth even further next year.

Former Fed official Roberto Perli, managing director at the research firm International Strategy & Investment, doubts the Fed will take action at its next meeting July 31-Aug. 1, preferring to wait for more evidence of where the economy is headed.

But if growth and job creation continue to weaken, he says, Fed policymakers might unveil another round of bond purchases at its Sept. 12-13 meeting.

Perli says they might consider new ways to stimulate economic growth, including a version of a new Bank of England program that provides cheap money to banks that increase loans to businesses and consumers.

Chris Jones, economist at TD Economics, says the case for more aggressive action by the Fed is getting stronger as the economy weakens and the threat of inflation recedes.

The Federal Reserve Bank of Cleveland reported last month that the public expects inflation to stay below the Fed's target of 2 percent for the next decade. Inflation expectations are important because they can become self-fulfilling: Workers may demand higher pay raises or consumers may spend more now if they expect prices to rise sharply in the future. Low expectations ease inflationary pressure.

Some analysts have suggested that the Fed may be reluctant to be aggressive in an election year out of concern it could be seen as affecting the vote in November. But Jones notes that the Fed slashed interest rates and took other bold steps to help the economy on the eve of the 2008 election.

"The Fed is going to do what it needs to do, when it needs to do it," Jones says.

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Comments » 36

SeeFuture writes:

The Fed intentionally crashed the booming economy in 2000, then created the housing boom and 2008 economic collapse with their 1 percent interest money giveaway. Can't believe our nation is still trusting them to influence our economy.

Coastal writes:

Next week dozens of S&P 500 companies are due to report earnings, or lack there of.

The NDN will probably miss that story too.

Coastal writes:

BERNANKE WARNS: "economic activity appears to have decelerated somewhat during the first half of this year"

Obama: "we're heading in the right direction"

Davidh239 writes:

Just finished watching the latest edition of what has become the Chairman's double speak. Now we get to hear the banking committee and their inane questions.

Please spare us this pontificating but it does provide an occasional dose of humor.

newzhound (Inactive) writes:

Geitner and Bernanke knew that LIBOR was being set artificially low, did not bring it to the attention of the public and once again failed as regulators.

that's the summary so far...

Sane_in_Florida (Inactive) writes:

in response to Coastal:

Next week dozens of S&P 500 companies are due to report earnings, or lack there of.

The NDN will probably miss that story too.

Actually corporate profits, especially relative to productivity, are at an all time high. Don't try to play economist Coastal when you have no clue what you're talking about.
I'm not saying things are rosy but try not to make yourself sound like an idiot by saying something that is the complete opposite of the truth.

And please don't reply with some asinine comment when the above comment is empirical, not political or partisan.

http://blogs.smartmoney.com/advice/20...

titanbite writes:

Google,"the LIBOR scandal",and learn of the next,"too big to fail",bank bailout's soon to come.

London banking interests have been manipulating the LIBOR - the "London Interbank Offered Rate",which,is a benchmark interest rate utilized by worldwide financial markets to set interest rates that cover everything from home mortgages to car loans,manipulating this interest rate benchmark by raising and lowering the rate can have beneficial effects for some,while financially injuring many.

This more recent revelation could have the American taxpayer potentially facing another bailout of American banks as well,J.P. Morgan-Chase has representatives that sit on 9 out of 10 LIBOR board's,that being said,it's difficult to believe that some American banks have NOT had DIRECT involvement with the scandal.

Many large institutions may have been seriously financially injured due to the LIBOR scandal,institutions like large pension funds and mega-mortgage lenders,they will surely be looking for what could amount to trillions of dollars in financial settlements in courts from here in the U.S.,all the way to the U.K.,culminating in the American taxpayer footing the bill,AGAIN,for our still,"too big to fail",financial sector's wrong doings.

Read more here,

http://www.bbc.co.uk/news/business-18...

NeezDutz writes:

I think what the Govt should do is waste a ton of money on a health care bill that nobody has read and then throw another ton of money at green companies that have since gone into bankruptcy.
That will create some jobs.

Coastal writes:

in response to Sane_in_Florida:

Actually corporate profits, especially relative to productivity, are at an all time high. Don't try to play economist Coastal when you have no clue what you're talking about.
I'm not saying things are rosy but try not to make yourself sound like an idiot by saying something that is the complete opposite of the truth.

And please don't reply with some asinine comment when the above comment is empirical, not political or partisan.

http://blogs.smartmoney.com/advice/20...

Actually, you’re the only idiot that seems to be predicting next weeks announcements.

romneygate writes:

in response to Coastal:

Actually, you’re the only idiot that seems to be predicting next weeks announcements.

Aren't you the guy that always accuses ITS opponent of calling names when losing an argument - IDIOT? LOL

newzhound (Inactive) writes:

Simple Schumer tells the Chairman to 'get to work' because we in Congress will not do anything.

another gem.

Coastal writes:

in response to romneygate:

Aren't you the guy that always accuses ITS opponent of calling names when losing an argument - IDIOT? LOL

You really can’t keep up with a conversation can you?

Do you have anything relevant to add? You never do, maybe this can be your first time.

dab writes:

in response to Coastal:

BERNANKE WARNS: "economic activity appears to have decelerated somewhat during the first half of this year"

Obama: "we're heading in the right direction"

One only has to look at the business section of any newspaper to realize that the Obama Administration's policies have failed and continue to fail....yet, we still have idiots out there that think he's doing a good job. Wow. Don't read the newspaper? Look around - do any of you Obama supporters see a recovery?! The excuses, deflections and obfuscations of reality about Obama are wearing thin. The guy is inept and incompetent for the job of the presidency - he's a total embarrassment. Frankly, anyone still supporting this guy either isn't paying attention to the truth or is just s-----. Hillary would easily win and would be light years ahead of Obama on every level - that said, Romney is the best choice we have to right this sinking ship.

Sane_in_Florida (Inactive) writes:

in response to Coastal:

Actually, you’re the only idiot that seems to be predicting next weeks announcements.

The article is from February and address recent corporate profits in the context of current labor trends...no predictions...So I guess you can't read either.

Nice retort, glad you were able to add some substance to the debate. Again, you're an idiot.

romneygate writes:

in response to Coastal:

You really can’t keep up with a conversation can you?

Do you have anything relevant to add? You never do, maybe this can be your first time.

What's the matter Coastal? Get caught with "your fingers in the cookie jar"? LOL

romneygate writes:

in response to dab:

One only has to look at the business section of any newspaper to realize that the Obama Administration's policies have failed and continue to fail....yet, we still have idiots out there that think he's doing a good job. Wow. Don't read the newspaper? Look around - do any of you Obama supporters see a recovery?! The excuses, deflections and obfuscations of reality about Obama are wearing thin. The guy is inept and incompetent for the job of the presidency - he's a total embarrassment. Frankly, anyone still supporting this guy either isn't paying attention to the truth or is just s-----. Hillary would easily win and would be light years ahead of Obama on every level - that said, Romney is the best choice we have to right this sinking ship.

Gee, I'm looking at the business section and the Dow averages seem to be in range of 13,000. Hmmmmm, that must be "unlucky", right? Your "sinking ship" is a submarine with accounts in Bermuda, The Cayman Islands and Switzerland!

Sane_in_Florida (Inactive) writes:

in response to SoldierStrong:

(This comment was removed by the site staff.)

Well you're so special Soldierpuss I've reserved imbecile just for you!

Pragmatic1 writes:

Lets see, 33 votes in the Republican lead House of Representatives to repeal The Affordable Health Care Act. 33 Defeats, cost over $50 Million of taxpayers dollars.

President Obama's Jobs Bill cannot get to a vote once in the Republican Lead House of Representatives.

Is there a message somewhere in here?

Pragmatic1 writes:

in response to NeezDutz:

I think what the Govt should do is waste a ton of money on a health care bill that nobody has read and then throw another ton of money at green companies that have since gone into bankruptcy.
That will create some jobs.

How long does it take a Republican to read The Affordable Health Care bill that "nobody has read"?

Yet, while saying its too long to read they come out opposed to it.

How do you know you don't like it if you haven't read it?

jacktanner writes:

I suggest the President invite to attend his speech meetings, all the local Republican elected officials who requested and received federal loans and grants.

Greatest threat to national security and number one campaign issue
http://www.usdebtclock.org/
http://www.bls.gov/data/inflation_cal...
http://mobile.bloomberg.com/news/2012...
http://www.youtube.com/watch?v=0LC1RI...

First Year Spending Cuts One-Trillion.
Third Year Balanced Budget.
http://www.ronpaul2012.com/the-issues...

http://DailyPaul.com

Chester writes:

Another example of the totally disasterous Obumbles economic record. How can anybody with any intelligence think that this guy deserves another 4 years? He must go or our economy will further sink into the abyss! Romney deserves a chance to turn this thing around!

Chester writes:

in response to romneygate:

Gee, I'm looking at the business section and the Dow averages seem to be in range of 13,000. Hmmmmm, that must be "unlucky", right? Your "sinking ship" is a submarine with accounts in Bermuda, The Cayman Islands and Switzerland!

Don't forget that the DOW was at 14,300 under W. in October 2007 and right now it is around 12,800. So, obumbles is still about 1500 points behind W. Also, Pelosi and Reid have off shore accounts. Nothing illegal about it, so thats a lame argument. Look at the overall economy. Its (naughty word)!!!!!!

checkbook_ira#259750 writes:

A board member of the federal reserve recently stated the dow would be at 6000 were it not for QE1, QE2, operation twist, etc. What other reason could there be for it to double since 08 when we were in the middle of a recession? If the FED didn't twist the facts people would know we are STILL in a recession. Furthermore, Europe is on the brink..the fiscal cliff. They are BROKE. The US is broke. If the euro collapses that will drag down the US banking system. DC knows that but won't say that publicly. You will find some great articles here: www.themarketoracle.com. Here is another one: wwww.mauldineconomics.com. A great writer is Lew Rockwell at www.lewrockwell.com. If you want to see the true state of the economy and more look at www.shadowstats.com. The smartest place to be is in cash. Get out of the stock market ASAP. Cut expenses where possible. If you own a business and can get by with less then let as many employees go as possible (you might get hit hard with obamacare taxes as an employer). Doing away with employees will lessen unemployment taxes, etc and help your bottom line.
Putting away some gold and silver could also be prudent. Look at them as insurance. If the stuff does hit the fan that gold and silver could come in very handy. Don't go nuts and put 30% into metals, but having some could certainly make a difference if a crisis hits. Remember, jews that had gold during the nazi occupation were able to buy their way to safety. Buy some and consider it insurance. You pay car insurance and never get a dime back if nothing happens. Buy some gold "insurance" and if nothing happens you might get 50,60, 100% or even more of your "insurance" back! A few more thoughts. Cut up the credit cards. If you have huge bills that are not tax deductible look for ways to make them deductible. If you can borrow money on your primary residence and then pay off your car loan you can deduct the interest expense. Believe it or not..clip coupons! I regularly get 10% back where I shop. That is FREE money for simply paying attention. IGNORE the biggest fraud in the history of the white house...times are going to get a LOT worse. The better prepared will fare better than those not prepared.

romneygate writes:

in response to Chester:

Don't forget that the DOW was at 14,300 under W. in October 2007 and right now it is around 12,800. So, obumbles is still about 1500 points behind W. Also, Pelosi and Reid have off shore accounts. Nothing illegal about it, so thats a lame argument. Look at the overall economy. Its (naughty word)!!!!!!

Yes, 2007 saw real estate "values" at record highs too. Those "values" disappeared just like the Clinton surplus with Dubya"s expertise. Hasn't he written a book on how it is done? The market is looking over the economy and it doesn't see what you describe. Of course, you know better, right? Rush told you so.

checkbook_ira#259750 writes:

in response to Chester:

Another example of the totally disasterous Obumbles economic record. How can anybody with any intelligence think that this guy deserves another 4 years? He must go or our economy will further sink into the abyss! Romney deserves a chance to turn this thing around!

Romney won't do it either! Neither party has the guts to do what is right. The only way to fix the mess would be drastic changes. Look at the riots in Greece, England, etc. Think we won't have those here? Sure we will. Austerity. But those elected will refuse to seek austerity because they value their jobs more than doing the right thing. You can't fix broke by spending more money. obumbler thinks you can and his laughable claim that romney didn't have any "experience" concerning business or the economy had to be the funniest lie out of his mouth. That guy will never cease to amaze us with his lies.
If they want to turn things around they have to start at home. That won't happen without someone like Ron Paul. He is probably the best hope we have of real change but that won't happen! We are stuck with two undesirables.

itmattershere writes:

True. As Republicans you all should be ashamed to the fact that the G.O.P., has chosen to sit on it's hands and bad mouth the President, then actually focusing on helping the American people, regardless of who gets credit for it. That was the feeling after Obama got elected, and has been the feeling over the last 2 years. (Congress control)

Chester writes:

in response to romneygate:

Yes, 2007 saw real estate "values" at record highs too. Those "values" disappeared just like the Clinton surplus with Dubya"s expertise. Hasn't he written a book on how it is done? The market is looking over the economy and it doesn't see what you describe. Of course, you know better, right? Rush told you so.

Unlike you I speak the truth. Bush left the economy in the basement in 2008 with the collapse of the housing market, 10 trillion in debt and the terrible decision to invade Iraq. But Obumbles has made the situation worse. 16 trillion in debt, with average budget deficits of 1.2 trillion, unemployment over 8% the whole time, more people on disability then people looking for jobs, etc.. Quit being a lap dog! How can you honestly say that obumbles has done a good job? You're either very dumb or you just support obumbles because he has a (D) behind his name.

Chester writes:

in response to checkbook_ira#259750:

Romney won't do it either! Neither party has the guts to do what is right. The only way to fix the mess would be drastic changes. Look at the riots in Greece, England, etc. Think we won't have those here? Sure we will. Austerity. But those elected will refuse to seek austerity because they value their jobs more than doing the right thing. You can't fix broke by spending more money. obumbler thinks you can and his laughable claim that romney didn't have any "experience" concerning business or the economy had to be the funniest lie out of his mouth. That guy will never cease to amaze us with his lies.
If they want to turn things around they have to start at home. That won't happen without someone like Ron Paul. He is probably the best hope we have of real change but that won't happen! We are stuck with two undesirables.

Ron Paul is a nut job. He lost, move on. Its either Obumbles or Romney! Vote or stay home!

Chester writes:

in response to Pragmatic1:

Lets see, 33 votes in the Republican lead House of Representatives to repeal The Affordable Health Care Act. 33 Defeats, cost over $50 Million of taxpayers dollars.

President Obama's Jobs Bill cannot get to a vote once in the Republican Lead House of Representatives.

Is there a message somewhere in here?

Yes, the message is obumbles-care will cost all of us trillions in new taxes and debt. Also, obumbles's last "jobs plan" produce Solydra the bankrupt solar panel company which cost the tax payers a billion dollars. obumbles has no clue what he is doing, aka Empty Suit!

romneygate writes:

in response to Chester:

Unlike you I speak the truth. Bush left the economy in the basement in 2008 with the collapse of the housing market, 10 trillion in debt and the terrible decision to invade Iraq. But Obumbles has made the situation worse. 16 trillion in debt, with average budget deficits of 1.2 trillion, unemployment over 8% the whole time, more people on disability then people looking for jobs, etc.. Quit being a lap dog! How can you honestly say that obumbles has done a good job? You're either very dumb or you just support obumbles because he has a (D) behind his name.

Your "argument" is like saying a guy gets hit by a car and it's the fault of the medics he dies from a loss of blood despite the medics attempts to save him. But, of course, this will all change if Romney gets in and all will be well by January 31st, 2013. Everybody will be working and opening up accounts in Bermuda, The Cayman Islands and Switzerland. After all, their leader will disclose how that is done, right?

checkbook_ira#259750 writes:

in response to Chester:

Ron Paul is a nut job. He lost, move on. Its either Obumbles or Romney! Vote or stay home!

Stay home but try to find a channel that doesn't have updates by the milisecond on the election. Maybe ID channel or LMN.

checkbook_ira#259750 writes:

in response to romneygate:

Your "argument" is like saying a guy gets hit by a car and it's the fault of the medics he dies from a loss of blood despite the medics attempts to save him. But, of course, this will all change if Romney gets in and all will be well by January 31st, 2013. Everybody will be working and opening up accounts in Bermuda, The Cayman Islands and Switzerland. After all, their leader will disclose how that is done, right?

It sounds like you have a mental problem with romney having accounts in other countries. Is there any possibility biden, pilosi, or reid are the same types or is that reserved for republicans (I am an independent) ?

Beachglow writes:

in response to Coastal:

BERNANKE WARNS: "economic activity appears to have decelerated somewhat during the first half of this year"

Obama: "we're heading in the right direction"

This is exactly why we need to get Obama out of the presidency. He is a terrible leader and does NOT know how to stay in Washington and run a country.

Bernanke is a Harvard graduate, smart guy. He looks very worried, but do you think Obama is there worried, too? No, he's too busy having fun and campaigning: NOT RUNNING THIS COUNTRY AS HE SHOULD. I think he is in way over his head and does not know what to do.

Let's get a real businessman in there to turn this around before we do go off that fiscal cliff.

BillyBob1 writes:

in response to Pragmatic1:

Lets see, 33 votes in the Republican lead House of Representatives to repeal The Affordable Health Care Act. 33 Defeats, cost over $50 Million of taxpayers dollars.

President Obama's Jobs Bill cannot get to a vote once in the Republican Lead House of Representatives.

Is there a message somewhere in here?

I think there is a message in there. It is; Obama has got to stop screwing around with the economy and start doing the job he was sent to do. He could start by actually passing a budget, he has never done that since elected.

itmattershere writes:

Learn how to spell DamYankee, also learn whats going on. Your hatred for the President is clouding your brain for the truth. Obama is not the best, but by far Congress & Senate has failed. Obama is the fall guy, but wake up.

AmericasTrueRecoveryBeginsIn2016 writes:

in response to Pragmatic1:

Lets see, 33 votes in the Republican lead House of Representatives to repeal The Affordable Health Care Act. 33 Defeats, cost over $50 Million of taxpayers dollars.

President Obama's Jobs Bill cannot get to a vote once in the Republican Lead House of Representatives.

Is there a message somewhere in here?

The message is that Congress as a whole is dysfunctional because the party that controls each house is more concerned with pursuing their own agenda than they are with doing what is in the best interest of the country.

That problem is not just limited to one party, despite what you may have convinced yourself of.

The Democrat-led Senate is just as bad as the Republican-led House. Harry Reid is at least as accomplished at obstructionist politics as John Boehner is when it comes to preventing legislation from reaching the floor to be voted on.

The fact that you continue to willfully overlook and tacitly condone behavior in those with whom you share a political philosophy while condemning identical behavior in those with whom you disagree is hypocritical at best, and is dishonest and disingenuous at worst.

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