Monday, September 29, 2008

Bailout: House Republicans Dig in Heels, Ask Paulson for Receipt

The Wall Street Journal's Real Time Economics blog has the roundup, the headline was my contribution to the Onionization of America. From Real Time Economics:

Secondary Sources: Bailout, Bailout and More Bailout

  • What’s Next: Writing for the Financial Times, Larry Summers looks at the budgetary implications of the bailout plan, echoing the point that the proposal won’t substantially effect the deficit if enacted correctly. “The worst possible actions in the current context would be steps that have relatively modest budget impacts in the short run but that cut taxes or increase spending by growing amounts over time. Examples would include new entitlement programs or exploding tax measures. The best measures would be those that represent short-run investments that will pay back to the government over time or those that are packaged with longer-term actions to improve the budget. Examples would include investments in healthcare restructuring or steps to enable states and localities to accelerate, or at least not slow down, their investments.”
  • Nothing New: Robert Shiller in the Washington Post says that a government hand in the markets is nothing new....MORE

  • Also at RTE: