Treasury
Secretary Henry Paulson warned us that the economy was about to
collapse unless Congress immediately authorized him to spend $700
billion on "troubled assets" held by banks. But it's been a month
and a half and the Treasury has yet to buy any troubled assets. In
fact, last week Paulson said it had no plans to do so. And as
Senior Editor Jacob Sullum writes, that's just one of the many
bewildering reversals in economic wisdom we've seen in recent
months.
Reason Magazine
New at Reason: Jacob Sullum on the Government's Confusing and Contradictory Economic Pronouncements
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