CBS's Katie Couric asked Republican Vice-Presidential nominee Gov. Sarah Palin whether there could be another Great Depression if Congress doesn't approve the $700 billion bailout plan. Gov. Palin's response:
Unfortunately, that is the road that America may find itself on. Not necessarily this as it's been proposed has to pass or we're gonna find ourselves in another Great Depression. But there has got to be action taken, bipartisan effort -- Congress not pointing fingers at this point at-- at one another but-- finding the solution to this -- taking action, and being serious about the reforms on Wall Street that are needed. [Governor Sarah Palin, 2008.09.24]
Ooh, ya, maybe it's comin'....
O.K., I had my doubts, but now I'm convinced. There's no Depression coming. There's no crisis. Congress could go home now, let the banks take a bath on mortgages, and we'll still be better off than if we saddle our kids with $700 billion of debt to bailout people who weren't ready to move up from Monopoly money.