What if we had known about 2008 financial crisis in advance? 

In the fall of 2008, Rep. Paul Ryan reminded reporters at a press conference announcing his budget proposal, the financial markets collapsed, leading to the "ugly" Wall Street bailout (which, incidently, he voted for).

"What if your Congressman knew it was going to happen?" Ryan posited. And what if that Congressman did nothing to prevent it because he thought not doing anything would make for better politics?

Right now, Ryan said, the nation is facing the "most predictable financial crisis in its history." We know when it's coming, how severe it can be, and that it could be prevented by reforming unsustainable entitlement programs.

The question his budget raises is, are the country's lawmakers going to allow this crisis to happen, or will they begin the process of making changes in a rational and orderly way to avert that crisis. Doing nothing only means more severe emergency measures down the road.

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Staff Report

Staff Report

A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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