Jamie Galbraith responds to Dick Armey

In a debate at the Texas Lyceum, Dick Armey spoke first and drew this response from Jamie Galbraith.  Between the zingers, Galbraith attributes the financial collapse to the prevailing idea of free market fundamentalism, to Phil Gramm the legislator, and to the Bush administration abandonment of state responsibility for financial regulation.  Then he discusses whether fiscal stimulus can get us out of trouble, saying yes but only if we're persistent--it won't be over in a year or two.