When Purism Collides with Practicality

摘要

We can all agree that President Obama inherited a mess. The economy is now in its 17th month of recession and headed down, not up. Unemployment just passed 8 percent and may be on its way to 10 percent, or worse. The Federal Reserve System and the Congress have pumped trillions of dollars into the banking system, seemingly to no avail because the credit crunch has not eased at all for manufacturing, or for most other sectors.