The U.S. House of Representatives should rationalize the corporate tax system and resolve mounting federal debt to spur economic recovery, Federal Reserve Chairman Ben Bernanke said Tuesday.

The chairman stressed this was one of the immediate moves that lawmakers should take to avert another recession.

Bernanke depicted the nation's economic condition as downbeat and that recovery is close to faltering, The New York Times reported.

The job slump has been described by some economists and media reports as the "worst economic tragedy to affect the U.S. since the Great Depression."

The Fed chairman also urged Congress to assist beleaguered homeowners through refinancing and facilitate credit opportunities for prospective buyers of real estate.

As a report from The Guardian notes, consumer spending account for 70 percent of the economy, and Americans confronted with debt, unemployment, cuts in wages and prohibitive medical bills cannot spend enough to keep it going.

"Fiscal policy can be a powerful tool, but it is not a universal remedy for the economic problems of the U.S.," Bernanke stated.

He underscored the fact that job generation and promoting economic growth is a collective task of all economic policy makers.

Bernanke said efforts should be made to lessen debts to a manageable degree. He also cited the need to "improve decision-making on the executive side, stay away from short-term spending cuts that could hinder revitalization and adjust spending to support growth."

As Bernanke criticized Congress, some legislators oppose his leadership of the central bank.

Some liberals would like the Federal Reserve to boost growth by further reducing interest rates or injecting money directly into the economy. On the other hand, conservative members of Congress advised against any new stimulative efforts by the Fed.

Recent attempts of the central bank to accelerate growth have been moderate in scope. It has announced in August that it planned to maintain short-term interest rates near zero for at least two more years.