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Oregon Rep. DeFazio Injects Common Sense into Bailout Debate
Continue to the storyOregon Rep. DeFazio gets it: To put the sheer audacity of this bailout plan in perspective, a compromise has been talked about that reduces the initial payments to "only $250 billion". $250 billion would more than double our investment in bridges, highways, transit, and rail in the United States for five years. Investing in infrastructure creates jobs and stimulates the economy. For example, many economists have argued that directly helping mortgage holders save their houses would be astronomically cheaper and a more effective in resolving this crisis. And helping working Americans restructure their homer mortgage will increase the value of Wall Street's depreciated assets.