How Paulson Just Picked the 2012 GOP Nominee

Back to blog

More Economics, Less Horse-Race

Robert Samuelson has already explained quite well that the cost of removing the burden of the sub-prime mortgage-backed securities from the Americans' banks is not $700 billion, but $700 billion minus the recovery that the U.S. Treasury will make from re-securitizing the assets that back the securities. Only if all of those mortgages and mortgaged homes were utterly worthless would the true cost come to $700 billion.

It seems better to spend one's energy helping the Americans understand this than to spend it making horse-race predictions for an election more than four years in the future. This is especially so, given that one cannot know the circumstances of that election so far in advance.

Kralizec @ Sep 26, 2008 14:37:40 PM

The $700,000,000,000 fuel for inflation bill

This will cause inflation, will not help employ anyone, will give too much power to Barney Frank to use it to give money to poors and most importantly minorities to buy their continued loyalty, will cause higher saleries to executives in coming years, and drown the poor by causing all things to become out of reach. In the end, this first bill will cause successive bills that will lead to the eventual enslavement of all Americans to the Federal Government as it just makes everything worse and nothing better, people will be hit by crisis after crisis after crisis, all of which MUST be passed by close of business friday, or it will be 1933 all over again.

BAD PRECEDENT!

A Stoner of UT @ Sep 26, 2008 14:36:10 PM

The $700,000,000,000 fuel for inflation bill

This will cause inflation, will not help employ anyone, will give too much power to Barney Frank to use it to give money to poors and most importantly minorities to buy their continued loyalty, will cause higher saleries to executives in coming years, and drown the poor by causing all things to become out of reach. In the end, this first bill will cause successive bills that will lead to the eventual enslavement of all Americans to the Federal Government as it just makes everything worse and nothing better, people will be hit by crisis after crisis after crisis, all of which MUST be passed by close of business friday, or it will be 1933 all over again.

BAD PRECEDENT!

A Stoner of UT @ Sep 26, 2008 14:34:43 PM

Obama

Obama did not vote against the rag war. His senate campaign stance was that he was against it...in 2004, but he never had to vote on it. It is easy to throw stones at the senate from the outside but a lot different on the inside dealing with reality. As we have seen so far, he always votes the party line and his party voted for the Iraq war just like everyone else.

N Carter of CA @ Sep 26, 2008 14:30:38 PM

investment-not bailout

This needs to be done and by 2012 we'll see it succeeding. Democrats will end up with many black eyes over this. Right now, they're all trying to cut a deal. Democrats are trying to blame JOhn McCain and other Republicans for delay but Dems are larding the bill with their ususal nonsense. Once the deal is signed then McCain needs to drop the gloves and bloody some Democrat noses. He can start with Frank, Schumer and Dodd; the main culprits in this disaster.

PAT DUGGAN of IL @ Sep 26, 2008 10:59:57 AM

Back to blog

Add Your Thoughts
About You
Capital Commerce

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

advertisement

advertisement

Subscribe

U.S. News Digital Weekly

A weekly insider's guide to politics and policy — in a multimedia, digital format. 52 issues for $19.95!

U.S. News & World Report

6 months of U.S. News & World Report's print edition for only $15. Save up to 67% off the cover price!