John Lott reports that although there is wide disagreement among economists about the need for action with respect to the economy, there is uniform skepticism about this particular bailout package.
Interviews conducted with a dozen prominent academic economists, Obama supporters as well as McCain supporters, found little support for the bailout bill. Indeed, even the one economist who supported the proposal passed by the Senate Wednesday night had serious reservations.
Economists might be known for disagreeing with each other, but there is surprising agreement regarding the bailout and the causes for the current financial problems. There was no support for the broad bailout being discussed in Washington, and the economists believed that the same outcome could be achieved at much lower cost to the taxpayers.
Powerblogs doesn’t seem to be allowing me to post a link to the column so here’s the url: http://www.foxnews.com/story/0,2933,431645,00.html