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Why is the GOP so furious at Ben Bernanke?

Asked by ETpro (34605points) September 14th, 2012

This question is the headline of a Sept. 14th article in The Atlantic magazine. It’s about Fed Chairman Ben Bernanke’s decision to stimulate the economy. The subtitle speaks volumes. It reads, “Republicans to the Fed chair: You’re not doing your job. Fed chair to Congress: You’re not doing yours.” Given the abysmal approval ratings of the this do-nothing congress and the fact most economists say the Fed’s action to resurrect credit markets back when the Great Recession hit in late 2007 did bolster renewed lending and unfreeze credit markets, this isn’t a fight congressional Republicans are likely to win.

When Chairman Bernanke announced the move, Republicans were quick to condemn it. But their message contradicts itself. Mitt Romney, for instance, declared that the move would do no good, and offered up the oft repeated GOP lie that the first stimulus did nothing as proof this move would fail as well. But he went on to say that the economic boost it would create was meant by the Fed to help reelect Obama. So let’s see, it won’t work, but the work it will do will help Obama (help America). And helping the American economy recover is a despicable thing? Huh? If we’re going to elect a liar as President of the USA, shouldn’t we at least look for a liar skilled enough in dissembling that he doesn’t consistently contradict himself?

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