Posted inCurrent affairs
Making sense of the $700 billion bailout
I can balance our checkbook. And that's how I like it: balanced. Where I know how much money we have, and that amount isn't less than the checks we've written. Pretty simple. But somehow all those geniuses on Wall Street and in government can't figure out how to do the same thing. They're used to spending more than they have. Under George Bush, we've had massive federal budget deficits. Not surprisingly, this charge it attitude has been reflected in the financial markets, where "take the money today and don't worry about tomorrow" has been the watchword. This week's TIME magazine…
