By Gail MarksJarvis
| Federal Reserve Chairman Ben Bernanke said the nation’s deficit is about 10 percent of GDP now, with half of that coming from fighting the recession. “The goal should be two to three percent of GDP,” he said. He noted that this will be difficult to achieve as the population ages, and as the government funds Social Security and Medicare for the largest population of seniors in the nation’s history.
| Federal Reserve Chairman Ben Bernanke said the nation’s deficit is about 10 percent of GDP now, with half of that coming from fighting the recession. “The goal should be two to three percent of GDP,” he said. He noted that this will be difficult to achieve as the population ages, and as the government funds Social Security and Medicare for the largest population of seniors in the nation’s history.
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