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Bernanke urges stimulus spending to bolster economy
Federal Reserve Chairman Ben Bernanke told Congress that the fragile economy needs government stimulus to strengthen the recovery and reduce unemployment. He urged a credible plan to reduce deficits in the long run while maintaining short term stimulus and warned the Fed could take new steps if growth stalls. He also backed extending Bush tax cuts and noted unemployment at 9.5 percent with consumer drag and weak wages.
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