WSJ's best guess on what Ben Bernanke will say tomorrow

WSJ: What to expect when Bernanke speaks tomorrow:

Federal Reserve Chairman Ben Bernanke gives an important speech at the Federal Reserve Bank of Boston Friday morning on monetary policy in a low-inflation environment — important because it comes just a few weeks before the Fed’s next policy meeting and because the time is ripe for him to lay out his thinking on the Fed’s next steps more clearly. Here’s our best guess about some of the issues that we think are on his mind:

Who needs death panels when you have unfunded promises?

NYT Reports: New York counties and municipalities have made promises but not any plans:

The cities, counties and authorities of New York have promised more than $200 billion worth of health benefits to their retirees while setting aside almost nothing, putting the public work force on a collision course with the taxpayers who are expected to foot the bill.