No Free Lunch for Wall Street?

A new Wall Street Journal survey is reporting that economists are split over whether the Republicans’ plan to cut $100 billion from the budget will help or hurt the economy, which is surprising after Ben Bernanke, Mark Zandi, and Goldman Sachs all agreed it would. One surveyed economist’s explanation, however, may provide some insight:

"There is no free lunch," said Dana Johnson of Comerica Bank. "Cutting spending does weaken the economy, but it is the right thing to do."

That would be the Comerica Bank that received a $2.25 billion government bailout in 2008. So in fact, there is a free lunch: but only for Comerica and the other TARP recipients.