Bernanke calls on both parties to be fiscally responsible

Bernanke's comments came during a House Financial Services hearing on economic implications for unwinding Federal Reserve liquidity programs. 

In one exchange with members, he predicted a bumpy road for lawmakers attempting to wrestle down the deficit.

"There's this tendency that nobody wants to cut [spending] and nobody wants to raise taxes," he said.  "At some point, we're going to have to make some unattractive and tough decisions. And I don't envy members of Congress who have to grapple with this problem."