Quotes of the day

The deepening of credit markets over the last thirty years has made [Fannie Mae and Freddie Mac] less than vital, while their government guarantee has dangerously concentrated mortgage risk.--Megan McArdle

From my perspective, the health care cost issue is a bit of a red herring. If you had government out of the health care financing business, you would not worry about what health care costs are doing. If my fellow citizens choose to spend more of their money on their health care, that's not my concern. It's the prospect of my fellow citizens spending more of my money on their health care that has me worried. --Arnold Kling