Fed’s Flood May Leave Democracy Needing Bailout (Kevin Hassett)

  April 13 (Bloomberg) -- The wise men of Washington keep finding more core beliefs that we have to give up. First it was free markets. Now it’s democracy.

  The financial rescue may be the least popular big-ticket government program in history. If the U.S. Treasury decides it needs more money to keep the bailout going, it is anybody’s guess whether Congress would provide it.

  As a result, Treasury and the Federal Reserve have been running what feels to this lifelong student of fiscal policy like a scam.

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