Posts Tagged ‘government bailout’

When the administration tries to rush something through congress, I worry. I also get a queezy feeling about the huge bailout that is being proposed.

The numbers are staggering, so much so that it defies comprehension. Our national debt ceiling will be rased to $11.3 TRILLION dollars. The bailout will cost $700 BILLION dollars. Maybe. It could be more, and there’s no guarantee that the plan will work. So far, the proposed bill doesn’t offer relief for homeowners.

I highly respect the opinions of economicst and NY Times columnist Paul krugman. He has an excellent column today called Cash for Trash that I recommend if you’d like a more sober view of what is going on.