Missing Numbers
Have you noticed that the only numbers we’re getting is the amount of the bailout? In the last couple of days, I’ve heard 700 billion and 1 trillion. But you know, there are some things we — not to mention Congress — need to know.
First, what will be the estimated economic cost of the bailout?
Second, what will be the estimated economic cost of no bailout?
Surely, economists somewhere are calculating these numbers, right? If the cost of the bailout is greater than the cost of no bailout, then passing a bailout bill would be insane. No informed decision can be made without these two numbers, so I repeat, economists are calculating them somewhere, surely?
Unfortunately, I doubt it. I’m sure this will be decided with no data or reference to cost or the real world. It’s a Democratic Congress, after all.
Oh. I’m not seeing those missing numbers, but these economists don’t like the bailout (h/t Andy Roth).
Rasmussen reports the number of respondents opposed to the bailout is growing.
Patrick Joubert Conlon:
Nice. I’m going to quote you.
September 24, 2008, 11:52 am