One man's 'Fiscal Adjustment' Is another man's default

As chairman of the Federal Reserve Board, Ben Bernanke is constrained by his ability to speak the truth plainly. People around the world hang on his every word for clues to the Fed’s future actions. His comments can move markets. Therefore, he really can’t run around with his hair on fire saying what he really thinks or how strongly he thinks it.

But his hair, if not on fire, was spitting sparks last week when he addressed the annual meeting of the Rhode Island Public Expenditure Council. His warning about the perilous fiscal road the United States is barreling down should send chills of fear down the back of every United States citizen.