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.
Federal Fiscal Policy
The Congressional Budget Act of 1974: The next 50 years
Commentary
The Failed Economic Bailout
September 30, 2008