With it’s usual cut-to-the-chase crispness, The Drudge Report conveyed the substance of Reuters’s Great Awakening:
“REUTERS: Bailouts may CAUSE a recession…”
Reuters’s own headline (“U.S. rescue efforts may risk double-dip recession“) was less dramatic, but the story showed that its reporter had cottoned on to something the essence of the issue:
U.S. companies, consumers and communities may grow so addicted to government financial help that cutting them off could trigger another recession soon after the current one ends
“Addicted to government financial help . . .” Let’s see, that would be what conservatives mean when the warn about “dependence of government subsidies” wouldn’t it? Further Reuters:
There is increasing concern that when the flow of public money subsides — beginning next year when much of that stimulus package is spent — the economy still won’t be strong enough to stand on its own.
Will that be the point at which we can say “I told you so”?