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Fixing What Congress Broke
Dear Congress. Don’t go rushing around and get stampeded off a cliff that leaves us with an $11.3 Trillion debt ceiling. Step back, take a deep breath, and go read this.
3 Responses to “Fixing What Congress Broke”
Good points, Jazz on the link. One issue: I don't know where the idea that capital gains tax elimination costs the taxpayer nothing. Eliminating government revenue is the same as increasing spending, dollar for dollar, on the federal balance sheet. No?
Insuring subprime bonds would cost a lot more than $50 billion…..of course subprime isn't the problem anymore as almost all the losses have been realized.
Alt-A and Prime are waaaaaaaaaaay bigger and there are potential losses that dwarf subprime.
Negative equity in homes…. YIKES! That's one sobering link mikkel.