We all just paid more than a trillion dollars to socialize bad debt from formerly unregulated mortgage banks in order to avert what economists are calling a second Great Depression. Here’s the question: Is this an economic situation that suits a man who admits that he doesn’t know much about the economy, and a woman who is proud that she got a D in macroeconomics?
Ask. Ask. Ask.
I overheard someone on cable news today quote the following maxim: Wealth is privatized, but debt is socialized. I wonder if the Republicans understand, as Jonathan Alter mentioned on Rachel Maddow’s show tonight, that President Bush and Treasury Secretary Paulson became socialists today.