Bernstein on Fed’s Powell Saying the U.S. Is on a ‘Fiscally Unsustainable Path’: He’s Talking About Republicans

EXCERPT:

BERNSTEIN: "Well, look, when Powell is talking about the fiscal outlook, he’s looking forward as well. In fact, that’s what everybody’s talking about when they’re talking about sustainability or unsustainability. This is a forward-looking play here, and you’re either stopping digging or you're digging deeper. Our perspective is to not only stop digging, but to try to reduce the deficit and debt with highly progressive tax increases and very smart spending cuts to actually help people by lowering the cost of prescription drugs, by lowering the cost of Medicare, by lowering the cost of insulin, by lowering the cost of health coverage. The other side is proposing a $4.6 trillion unpaid for tax cut, and we will not stand by and watch that happen. That’s exactly moving in the wrong direction that Chair Powell was warning against."