[lbo-talk] Treasury's proposed (and nameless) bailout law

Shane Taylor shane.taylor at verizon.net
Sun Sep 21 12:47:57 PDT 2008


Doug Henwood wrote:


> $700 billion is 5% of GDP. Federal debt is now around 38% of GDP.
> It was almost 50% in 1994, and over 60% in 1952. We can afford it.

Yes, but the actions of the federal government of late--the scrambling to master events that continue to overtake them, the banana republic tenor of it all. Couldn't these undermine the confidence of our foreign sponsors?

Shane



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