I think we have just raised the eventual cost of acting by 20%. I have posted several times on this already so I'm tired and not up for a long detailed discussion. Suffice it to say that I think most of the objections are ill-founded nonsense by people who are proposing slogans instead of workable alternatives. As far as I can tell, the GOP have put their electoral survival above the stability of the financial system, but may have destroyed themselves in the process.
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