This last Friday, John Stossel of ABC's 20/20 news program had a piece called "The Big, Bad Bailout." I have provided a link to watch the 6 1/2 minute video here: http://abcnews.go.com/2020/. It talks about a ton of stuff that we have gone over in class. It shows a lot of clips of our current politicians explaining to the news media that this is a "crisis" that we have not experienced since the Great Depression, and that we need a stimulus package now, and we need it to be BIG!
As I first began to watch the show, I was pretty sure I was in for the normal "hell, fire, and damnation" story about the economy that is the norm in today's media. John Stossel, however, calls the importance and benefits of the stimulus package into question. He explains, and the news clips show, how politicians like President Obama say that when it comes to the need for the current stimulus package, there is a complete consensus among the economists of this country that it is important and vital to our recovery.
Afterward, however, John Stossel interviews a group of economists who all believe the stimulus package is bad, and not helping but hindering our recovery. He points out that a lot of the current stock market drops have immediately followed federal government press releases announcing more federal money to help struggling sectors. Investors really seem to dislike the government's help!
I thought the video was really informative and sums up a large portion of what we talk about on a day to day basis in class. I would really recommend taking the time to watch it.