You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

CBO Chief: Bailout Could Worsen Econony

HeadlineSep 25, 2008

Other congressional testimony painted a skeptical picture of the Wall Street bailout. Speaking before the House Budget Committee, Congressional Budget Office director Peter Orszag said the bailout could actually worsen the financial crisis. Orszag testified the bailout could trigger broader economic collapse because the assets of struggling financial firms could have even less value than currently believed. In an interview with the Washington Post, Orszag said, “The key question is: What are we buying, and what are we paying for it?”

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top