We have reached one of those defining moments. Questions abound as to what is the solution to take to deal with the credit crisis. On the one hand, the government in power apparently believes in the approach of patching the tire. Soon or later they guess we will get to a gas station and we can buy a new one and then continue on our trip to the free market future. Meanwhile, they want to throw in some new rules for the drivers, read lenders here, and the passengers, read you and I and all the rest of the taxpayers here.
The government not in power, has some suggestions too. If you are going to patch anything, they say, it ought to be the consuming, bankrupt home owning, middle class wage earning, and health care without ordinary person.
Then there are the people not in power, bloggers just like you or I, who have some ideas too. Hellasious at Sudden Debt says don’t fix anything while Jon Taplin at taplinsblog say we need to address the budget with a view towards a new Federalism.
Where we will be tomorrow no one really knows. Really. But I am open to suggestions if you care to make them.