Hi Bill,
I stayed out of this since initial posts after Bernanke addressed Congress week or so ago.
I don't think Bernanke said anything beyond "warning the Politicians" that "failure to meet our debt obligations" would have "very serious consequences". As did Geithner.
The Politicians have "already spent the money", the debt ceiling must be raised to cover that.
Both Bernanke and Geithner have warned that the growth of the debt is "UNSUSTAINABLE" that spending cuts as well as longer term debt reductions must be addressed.
The Politicians seem to be turning the "debt ceiling issue" into a political game, and the clock is running out.
I think the Fed./Bernanke has applied everything in its "toolbox" to get us out of the Recession, head off a Depression, within their mandate of seeking maximum sustainable employment and economic growth within realistic inflationary bounds.
For those that "do not like what the Fed./Bernanke" has done/accomplished, I would certainly like to see their "alternative plan".
My thoughts,
Lee