the Economy Continues to Burn

While Paulson Waffles, the White House Dawdles, and Congress Dithers, the Economy Continues to Burn

Reuters/Molly Riley

Arianna Huffington: So, $290 billion into his bailout plan, Hank Paulson is calling for a do-over. Now there is a confidence booster. Not that Paulson's midstream direction change is a bad thing - indeed, the lip service he's now paying to putting the focus on consumers is encouraging - but it shows just how uncertain Washington is about how to keep the economy from imploding. In the meantime, oversight of the massive bailout plan remains a mirage, undermined by White House inaction and Congressional turf wars. Unfortunately, while Paulson waffles, the White House dawdles, and Congress dithers, the economy continues to burn - with 516,000 American filing new unemployment claims last week and 84,868 homes lost to foreclosure in October. "It's a mess," said Eric Thorson, the Treasury Department's inspector general. Bartender, another round of lack of confidence for everyone. Click here to read more.