Steven Rattner, the former Obama administration point man for the bailout of Chrysler and General Motors, launches into a sort of mania on the opinion page of the New York Times today.
He complains that Republicans don't have economic plans so much as "shadowy outlines" of economic plans. Peering through the shadows, he detects "extreme views," "crazy" ideas, and (again) “extreme views.”
There is no analysis of the Republican positions. In the place of analysis there is the repeated assertion that the positions would lead to economic ruin. Not raising the debt ceiling would “tip the economy into an unending downward spiral.” Failure to pass Tarp would have meant “we would not have a functioning economy today.” Eliminating the Federal Reserve “would plunge the country back into an oscillating 19th-century world of panics and busts.”
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