Argument: $700b plan is very unfortunate, but is a necessary evil

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Treasury Secretary Henry Paulson – “I share in your frustration. This is not something I ever wanted to ask for. But it’s much better than the alternative.”[1]

“it could be a considerable cost. And I don’t like the fact that the American taxpayer is bearing that burden, but it is far better than the alternative.”[2]

“Economists: Federal Debt Bailout Best Option”. CBS5.com. 25 Sept. 2008 ― The economy could suffer a massive hangover from the government’s efforts to rescue the financial system in the form of a soaring debt burden. But the alternatives look infinitely worse…economists said the government has to take decisive action because the alternative of letting the financial system slide into even deeper problems which could jeopardize the routine loans that businesses and consumers need was simply not an option.

“It was critical to arrest the downward slide in financial markets,” said Sung Won Sohn, an economist at California State University, Channel Islands.

Paul Ryan (R-WI) – Madam Speaker, this bill offends my principles. But I’m going to vote for this bill, in order to preserve my principles, in order to preserve this free enterprise system.”[3]

Donna St. George and Jonathan Mummolo. “Bailout Is ‘a Necessary Evil,’ Area Residents Say”. Washington Post. 30 Sept 2008 – Carlos Aulestia, 46, a Rockville toy store owner angry that the economic crisis has brought his business its slowest weeks ever, was hoping yesterday that the proposed bailout plan would end the downturn.