Federal Reserve Chairman Ben Bernanke testified today before President Obama’s commission tasked with dealing with the federal deficit. He did not mince words when he said that failure to pay down the huge federal deficit would cause “great damage” to the U.S. economy. Bernanke said that current government spending is on “an unsustainable path”. The Fed Chairman advocated the committee to develop a plan to pay down the federal deficit, which hit a record amount of $1.4 trillion last year. Large portions of the debt are a result of recent economic bailout efforts and the cost of fighting multiple wars.
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There are numerous sources for graphs, charts, surveys, calculations and a seemingly infinite number of people and organizations with a stake in the housing market, so it’s difficult to cut through the noise and hear the melody. But in her debut column, HousingWire Columnist Mary Frances Coleman shows you how.
MDK is strongly encouraging clients to embrace the new normal while preparing for a foreclosure volume increase in the not-too-distant future.