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The sustained financial crisis that the US government now finds itself in was entirely avoidable, according to a paper by Berkeley economist Brad DeLong last year, "Battered but Not and Beaten". The situation in late 2008 was dire, he explained but, he was convinced, "we were going to get out of this with only minor damage to the economy, for we did have (a) the technocratic knowledge, (b) the policy tools, and (c) the political will to escape from the trap". http://www.aljazeera.com/indepth/opinion/2011/08/2011821102242384922.html