Federal Reserve Chairman Ben Bernanke is merely giving "lip service" to fiscal responsibility when he appeals to Washington to get its fiscal house back in order, according to Dr. Martin Weiss, president of Weiss Research and author of "The Ultimate Depression Survival Guide." .
"Government's responsibility is to get their fiscal house in order ... but they're doing precisely the opposite."
Weiss spoke with Greg Corombos of Radio America/WND. The audio of the exchange is embedded here:
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Weiss recommends everyone "make severe sacrifices in order to save money and to build up cash reserves for future bad times."
"It's not merely the federal government that needs to step in and save, but it's also every individual American. That means accepting and adapting to a lower standard of living with less material purchases and more savings for the future."
Weiss advocates a "moratorium on further federal bailouts" of struggling companies. He also supports budget cuts in areas "that have so far been sancrosant."
"Unfortunately. the political will to do that is not there, and probably won't be there until we suffer through a more difficult economic time," he added.
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