Representative Todd Rokita (R-IN), one of three Freshman Members on the House Budget Committee, questioned Federal Reserve Chairman Ben Bernanke in a Committee hearing today. Rokita released the following statement:

"I asked Chairman Bernanke if he agreed that borrowing and bigger government were not the best way to grow the economy. He agreed those weren't the most effective policies and repeatedly expressed that long term entitlement reform and pro-growth tax policy reform is necessary.

However, we couldn't disagree more on his agency's ability to control the inevitable unhealthy inflation increases that will result from dumping billions of newly-minted, and therefore, borrowed dollars onto our fragile economy - the process known as QE2.

Our economy has remained worse than stagnant - it declined significantly, turning every dollar at our disposal into only 60 cents.  Any business that ran like our government would shut down fast.

CBO predicts current government spending levels will top crisis levels in a few years. Tactics like quantitative easing cannot replace reliable actions like lower taxes, decreased regulations and cost cutting. We must restore reliability to our currency quickly. 

The truth is that stable, predictable policies that trust the market will increase consumer confidence and decrease unemployment. The Fed must begin presenting clear goals that project success in raising employment rates and restoring price stability for the long term."