Bernanke says Nation Must Take Action Soon to Shape Fiscal Future

Chairman Bernanke expressed his concerns this week about the aging populace and what it will mean for the economy. He comments on the fiscal side of economics and warns that something will have to be done in order to sustain the older generation. Bernanke spoke about the dangers of Social Security and Medicare to the national deficit over the years.I think that our generation will not be able to rely on Social Security or Medicare for our life after retirement.
Another major concern of Bernanke's was the amount of time the unemployed have been without jobs. He worries that the longer people are out of work, the more their skills deteriorate, and the less likely they will get hired at a later date.
The last major part of this article was about not allowing companies become too big to fail, and using the Federal Reserve to prevent asset bubbles such as the housing market. The problem with this is that asset bubbles are hard to predict and so I believe that the Federal Reserve is limited in how much they can help protect the economy from a collapsing asset bubble.