Calculating the cost of bailing out the economy
Lance on Dec 02 2008 at 10:00 am | Filed under: Economics, Lance's Page
Now that the NBER has decided to endorse my view that we went into recession last December which I first first claimed last January, I think my points about the efficacy of fiscal stimulus still apply.
As for spending already pledged to save us, the figures are growing at a rate that has even astounded someone as bearish and cynical as myself. Barry Ritholtz has given us a breakdown and a spreadsheet to track it:
I suspect given the continuing issues and a President intent on expanding the government balance sheet even more than our present one that that spreadsheet will get quite a bit larger. All that money to save a $13 trillion economy. What a mess.
Meanwhile the housing market continues to collapse, as the lights repeatedly seen at the end of a tunnel seem to really just be a series of oncoming trains. Lots of charts and analysis here and here.
Sphere: Related ContentTrackback URI | Comments RSS
