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Why This Economic Bailout Plan Is A Good or Bad Idea…
Posted by Jorge | Posted in General, Political | Posted on 29-09-2008
I try not to get into politics too much but…
It seems like the stock market almost crashed today after Bush’s $700 million Economic Bailout Plan for the financial institutions was voted against by congress.
John McCain put his Election tour on hold a few weeks ago, canceled an appearance spot on David Letterman to support the cause, and Letterman practically ripped him apart for leaving him hanging. Which I thought was personally funny as hell, but it looks like McCain might have had the right idea.
McCain got so much flack for putting the campaign on hold to concentrate on the US financial crisis. Now the Dow drops 500 points today, some people are freaking out, and this actually makes McCain look pretty good I think because he wanted to concentrate on the cause to begin with
So I read in the Washington Post today that now Obama is trying to get people to support the Bailout Plan as well. This is personally my first time hearing Obama talk about it, but then again, I’m at a job all day, so I don’t have time to sit in front of the TV and avidly watch the news. I thought Obama gave McCain flack for wanting to postpone their first debate to concentrate on this situation. Now look what happens?
I personally thought the bailout plan sounded stupid, why should we help out these financial companies that got all of the “poor” and “living paycheck to paycheck” Americans in this position to begin with?
To which Obama has said, “When taxpayers are asked to take such an extraordinary step because of the irresponsibility of a relative few, it is not a cause for celebration,” Obama said. “But this step is necessary.” So I can agree with him in a way, at the same time disagree with him. It’s a tough decision either way!
But like I said, I don’t keep my nose current when it comes to politics so I could be just making empty rants. If someone wants to enlighten me, please do!
