US PUBLIC DEBT CONCERNS FED’S BERNANKE

AMERICA’S “extraordinarily wide” government deficit must be tackled, Federal Reserve chairman Ben Bernanke warned last night. Referring to “the daunting fiscal challenges” the US faces, Bernanke said the public finances were “unsustainable” and would remain so unless “Congress enacts significant changes in fiscal programmes.” The government’s annual deficit has risen to more than nine per cent of America’s GDP.