Comment & Debate
“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.