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Mar 14, 2009

Bailouts by John Stossel

20/20 and Reason: “Bailouts & Bull”
03/14/09 - QAndO.net by Jason Pye

John Stossel of ABC's "20/20" program asks questions about the bailouts. At the end, he asks Democratic House Majority Leader Steny Hoyer if the stimulus will work. "I hope so" replies Hoyer. Video 1:00 to 7:46.

[edited] There are six videos. In the first one, Stossel talks to 18 economists about why the “stimulus” was a bad idea. He asks House Majority Leader Steny Hoyer if debt got us into this recession, then why is creating more debt going to get us out? One economist says that one dollar taken out of the economy is one less dollar to be spent in the private sector.

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