Bernanke wisely warned

From Charleston.net

But in congressional testimony Tuesday, Mr. Bernanke wisely warned of the risks in the president's long-run budget plan for borrowing another $7 trillion through 2019, more than doubling the national debt. "It's very hard to know" how much more debt the nation can take on "before the international financial markets begin to balk," he said. "And so I think the prudent thing to do is to try to maintain stability."

A similar theme was sounded in a Wednesday Wall Street Journal opinion article by Sen. Evan Bayh, D-Ind. Sen. Bayh cited the historic high amount of U.S. debt held by countries such as China and Japan:

"The more of our debt that foreign governments control, the more leverage they have on issues like trade, currency and national security," he wrote. "Massive debts owed to foreign creditors weaken our global influence, and threaten inflation and steep tax increases for our children and grandchildren. The solution going forward is to stop wasteful spending before it starts."