Today, Wednesday, October 1, the Senate voted to go through with the $700 Billion dollar bailout. The vote was 74-25 and both Senators Obama and McCain voted for this bill.
Senator McCain said, "If we fail to act, the gears of our economy will grind to a halt."
I am unsure of what to think of the bailout, I trust the senate has had good financial advising but at the same time I wonder when they will stop bailing out companies in financial crises. I would like to put my faith in the government, but it is still hard when the number is this big.
I think company representatives and senators need to reassure the public that this is the right thing to do and it will only help our economy.
http://www.usatoday.com/news/washington/2008-10-01-washington-bailout-wrap-Wednesday_N.htm?loc=interstitialskip
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I also think the government needs to do a better job o reassuring the people of this country there is hope in this plan. $700 billion is an amount I can't even imagine but I know that we really don't have any other option right now. But also how do we know something this drastic won't happen next week? It is all very scary .
I really wish I had a better understanding of the U.S. economy and the financial crisis we are in. Obviously I know that we are in a financial crisis that is having a negative impact on financial institutions, the government, consumer's and pretty much everyone else, but I guess better wrap my head around this whole 'bailout' idea. As citizens we put our trust in the government; the same government that gives us all these rights and protections as U.S. citizens. Hopefully it's the answer to brighter times ahead for our economy...
Well I watched the speech after the vote and they were all praising about how this was a victory for both parties... a shining example of how the left and the right worked together to acheive something great.
Then I found out the $700 Billion turned out to be closer to $800 Billion after nearly 100 Billion more dollars were tacked on in the form of pork and ear-marks.
I really want to quit reading the Wall Street Journal, all it does is angry up the blood.
i think to help out hte economy, it's vital that we bail them out.
what pisses me off is that we had to in the first place. i can't believe it got this bad.
the government does need to do a better job of reassuring the public about what's going on and that we should trust them.
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