As lawmakers scramble to figure out next moves on the financial crisis after the House voted down the rescue package, Martin Baily urges Congress to takes steps to avert a “nasty recession.” Although the actions in Washington are to shore up financial markets in New York, Americans everywhere have a lot at stake.
![Hutchins Fiscal Impact Measure](https://www.brookings.edu/wp-content/uploads/2017/02/hutchins_20170215_fiscalimpact_relatedimage.png?quality=75&w=500)
U.S. Economy
Hutchins Center Fiscal Impact Measure
Commentary
The Failed Economic Bailout
September 30, 2008