Credit Where Credit Is Due Bill Maher | Bio

New Rule: Stimulating the economy is like stimulating your body--there are good ways and bad ways to do it. And John McCain's "gas tax holiday" is basically economic crystal meth.

There's a seemingly dry headline this week that is a lot scarier than it looks: Bank of America's profit declined 77% this quarter. They're a big bank. They're a consumer-oriented bank. And it turns out their losses are not just coming from the subprime mortage crisis. They're coming from small business loans, construction loans, and simple credit card debt. Bottom line--people can't pay their bills.

The time for arguing over whether or not we're in a recession is not only past, it seems almost quaint now--a little math game that we had the luxury of playing back when things seemed like they might improve at any moment. Whether or not the eventual numbers reveal that this is technically a recession, professional and amateur economists alike can now agree that the economy is technically "in the shitter."

All that remains, then, is the question of how long things are going to suck, and some frightening questions: Are we willing to do anything to get out of this? Will we fall for the same old tricks? Will we once again accept a couple of cheapo give-backs and dog treats and future-destroying tax cuts as a "fix?" If recent history is any guide, those answers are "yes!" and "definitely!" and "Where's my cookie?"