The $700 Billion Questions

Wall Street and Washington's wrecking crew aim to get the most expensive free lunch in American history

By David Sirota

If a museum in the next superpower nation ever commemorates the decline of the last great superpower, it will make the two-and-a-half page bill introduced this week the center of the display. Just as they do today at the National Archives' Declaration of Independence exhibit, [RETURN TO ARTICLE]

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    India Posted by leo goldwin on Nov 25, 2010 at 7:35 AM

    In the Bush age of unending deficits, even considering affordability strikes some as silly and old fashioned. But we’re talking about adding $700 billion to 640-863  the national debt—or $2,000 for every man, woman and child in America. Moreover, if, as bailout proponents say, the ultimate goal of a bank rescue is to keep the credit markets liquid and interest rates under control, then adding $700 billion to the interest-rate-exacerbating national debt seems an odd economic analgesic, to say the least. This is to say nothing about the insanity of responding to what is inherently a debt crisis by simply firing up the national credit card and incurring more debt.

    Pakistan Posted by james100 on Dec 7, 2010 at 4:26 AM

    The ultimate goal of a bank rescue is to keep the credit markets liquid and interest rates under control, then adding $700 billion to the interest-rate-exacerbating national debt seems an odd economic analgesic, to say the least. This is to say nothing about the insanity of responding to what is inherently a debt crisis by simply firing up the national credit card and incurring more debt. life experience degrees

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     Page 1 of 1 pages
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