Tuesday, December 30, 2008

Quote of the Day

"We got into this mess to a considerable extent by over-borrowing. Now, we're saying, 'Well, O.K., let's just borrow a bunch more, and that will help us get out of this mess.' It's like a drunk who says, 'Give me a bottle of Scotch and then I'll be O.K. and I won't have to drink anymore.' Eventually, we have to get off this binge of borrowing."
Martin N. Baily, economist at the Brookings Institution; once on President Bill Clinton Council of Economic Advisers.

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