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FOX News senior judicial analyst Judge Andrew Napolitano on whether Obama should have replaced Fed chief Ben Bernanke in 2009.
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-- alleged to -- as the economy continues to struggle along here in the US is causing some critics to question whether President Obama.
Maybe regrets his decision to reappoint the head of the Federal Reserve Ben Bernanke back in 2009.
I want to congratulate Ben on the work that he's done so far.
Wishing you continued success in the hard work that he has before thank you so much -- Should the -- I have -- Ben Bernanke packing when he had the chance joining me now is -- judge ended a volatile that.
Fox News senior judicial analyst -- -- you on that you feel about the Federer is our friend that was someone else have done anything differently than Ben Bernanke's.
Well -- it would have to be someone else like Ron Paul who believes that the Federal Reserve shouldn't exist -- and remember Ronald Reagan.
Appointed a professed former disciple of -- -- Alan Greenspan.
Alan Greenspan actually work provide Rand -- -- of course is the is the supreme defender in the twentieth century.
Of un bridled that capitalism she argued that only pure capitalism with no government interference whatsoever.
It's a moral way to acquire and eventually to distribute wealth Alan Greenspan at one point.
I accepted that feel.
Did more printing of cash.
More inflation ultimately than any other.
Chair of the Federal Reserve in history Ben Bernanke has followed that trend something about government.
-- -- Draws to it.
People that want to use its engines expand its size and scope.
Regulate the behavior of the people it -- because people -- get into government think they know what's better for us then we know for ourselves.
They're more interested in results than they are in freedom.
So to your question.
Yes it Ron Paul as chairman of the Federal Reserve would have addressed it profoundly differently than Ben Bernanke but he probably couldn't have gotten.
Confirmed by the senate it's almost anybody.
The president's.
Reagan bush Clinton bush Obama would have appointed.
Probably would have come from the same mindset is Ben Bernanke.
And done the same thing what.
Because it critics of Ben Bernanke some of them think Ben Bernanke should have done more.
And they should have been more bond buying why -- and they ended.
It the responsibility falls on him for having unemployment that's greater than 8% when in fact.
They've given the federal government the biggest free pass on the planet by buying last year three quarters of the new debt issued by our belt.
That's the thing and mean Mitt Romney.
Last week criticized President Obama for borrowing a trillion dollars in just a year.
Put aside the fact that Paul Ryan in the congress voted to allow the president to do borrowing.
The criticism is well taken and I don't know that President Obama.
-- -- that -- without Ben Bernanke buying those bonds from the federal government without Bernanke and the on the cost of the bonds would have been so excessive.
But if Bernanke's mind -- continues.
And for.
Or president or governor Romney is elected and the Bernanke mind set continues.
And four years amounts at a sixteen trillion in -- we have twenty trillion in debt.
This much focus to death this -- be a trillion dollars a year in debt service this will be increase in taxes or rent have rampant inflation.
That will destroy the socio economic levels to which a lot of us have aspired.
And for which we've labored as we know it.
So so having Ben Bernanke there is a tool of last resort.
Is not a comfort it's a disaster it allows the government to do whatever it wants with this free cash and push the burden on to future generations.
Happy Monday -- -- yeah up.
Let me let you get out Colombia where I think our economy I think that's that's dug into evolved and out CE OK great to feel it's always.
