Argument: Advocates are fear-mongering to ram through $700b plan

Issue Report: $700 billion US economic bailout


Allan Meltzer, former economic adviser to President Reagan and Carnegie Mellon professor of political economy. – “This is scare tactics to try to do something that’s in the private but not the public interest. It’s terrible.”[1]

Daniel Mitchell. “Bailout Would Impose Needless Economic Damage”. Real Clear Politics. 1 Oct. 2008 – Some politicians and government officials are making reckless charges of greater financial turmoil in the absence of a bailout. These grossly irresponsible statements may cause short-term market losses as investors try to second-guess how other investors will respond, but the assertion that the stock market’s health – especially in the long run – depends on bigger government is belied by real-world evidence.