An Editorial from the Local Paper: The high cost of dithering

Posted by Kendall Harmon

There are good reasons for Congress to feel unease about the administration plan, beginning with its $700 billion cost and the free hand sought by the Treasury Department. But there is no time for a normal legislative process. Congress, faced with a take it or leave it situation, should have the courage to act decisively now in a way that will sustain the economy.

The issue facing the Congress isn't a political one. It is a technical financial question: what will it take to keep the American economy afloat in the immediate future, and at the least long-term cost?

Quibbling about the details at this time is like telling the surgeon in a life-or-death emergency situation that you'd like him to form a medical task force for your operation before going under the knife.

Read it all.



Filed under: * Economics, Politics • Economy • The September 2008 Proposed Henry Paulson 700 Billion Bailout Package • * South Carolina

3 Comments
Posted September 26, 2008 at 7:03 am [Printer Friendly] [Print w/ comments]



1. Dan Crawford wrote:

The logic of the local paper was used effectively to push the Patriot Act, the tax cuts, the stimulus plan, the Mae and Mac bailouts - all to devastating effect on our future as a democracy and the federal budget. We’d damn well better pay attention to the details, especially since it is apparent that the primary beneficiaries of the Uncle Sam’s largesse will be those who brought us to the brink of disaster.

September 26, 8:05 am | [comment link]
2. Sick & Tired of Nuance wrote:

I think we DO need the details and I think we had better think about what we are doing and not just throw money in the air and hope for a fix.

September 26, 11:02 am | [comment link]
3. Irenaeus wrote:

“Quibbling about the details at this time is like telling the surgeon in a life-or-death emergency situation that you’d like him to form a medical task force for your operation before going under the knife”

But how does the author know we’re “in a life-or-death emergency situation”? If we were reasonably certain of that, we’d be having a different debate.

September 26, 1:11 pm | [comment link]
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