Toledo Blade...
Trash talk
8/19/11 

JUST days after he launched his presidential campaign, Texas Gov. Rick Perry already has lowered the tone of the discussion. 

This week, Mr. Perry said it would be “treasonous” for the Federal Reserve Bank to issue more money “to play politics.” He also warned that if Fed Chairman Ben Bernanke “prints more money between now and the election” and then comes to Texas, he will get “pretty ugly” treatment. 

The Federal Reserve issues U.S. currency and is charged by law with overseeing the nation’s monetary policy. It is required “to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.” Its board of governors and Federal Open Market Committee do this, in part, by determining the money supply. 

Governor Perry should want the Fed to do its job, regardless of the political season, to help the U.S. economy. But because a terrible economy, rising joblessness, and business uncertainty would enhance his electoral prospects, he is playing politics by impugning the motives of the Fed. 

Even worse was Mr. Perry’s suggestion that if “this guy” -- that is, Mr. Bernanke -- issued more currency it would be “treasonous.” Death is a potential penalty for treason. Is that what Mr. Perry has in mind? 

Mr. Perry’s suggestion of physical thuggery should Mr. Bernanke visit Texas drags the presidential race further down, when it should be characterized by serious dialogue on important topics. His caustic remark offers insight about his possible temperament as president. 

In the meantime, Mr. Bernanke should make it a point to travel to Texas -- perhaps to visit the Federal Reserve Bank of Dallas -- soon. 

Read it at the Toledo Blade