Obama's second challenge
Today's column. Obama's second (or maybe fourth or fifth) challenge.
So far, American taxpayers have put up $1 trillion to rescue banks and consumers who borrowed too much. Congress will almost certainly approve a stimulus package of $300 billion or so more.Total debt owed by the U.S. government just surpassed $10 trillion. The deficit for the fiscal year that began Oct. 1 should break a record.
All this money appears to have tempered financial turmoil and plunging confidence, at least temporarily.
But who will bail out the bailer?
Read the whole thing here.
