The mainstream media is slowly coming around to admitting that next year's deficit will be enormous. They are now saying that it may hit $1 trillion.
There has been much analysis of the debate, but I found the following tidbits very interesting (concerning), and largely overlooked by the media (mainstream and otherwise).
Obama: I've proposed a $4,000 tuition credit, every student, every year, in exchange for some form of community service, whether it's military service, whether it's Peace Corps, whether it's working in a community.
President Bush today claimed that his bailout proposal was not socialism, but it is.
It's very important for the American people to know that the program is designed to preserve free enterprise, not replace it
Forcing banks to accept the US government as a major investor does not preserve free-enterprise, it is the start of a replacement.
Despite the claims of the mainstream media, a recent poll (near the end, Question 45 and on) makes it pretty clear that Americans want a smaller government.
In general, do you think government involvement is usually the solution or the problem?
Don't know 6%
The government is continuing to take away our fundamental freedoms. Now the government is forcing banks to sell parts of their firms to the government.
The AP appears to be practicing new math - i.e., math that serves their own interests:
In midday trading, the Dow fell 388.53, or 4.53 percent, to 8,190.66. At its low point Friday, the Dow was at 7,882.51, just 60 points above its low in Wall Street's last bear market, 7,286.27, reached Oct. 9, 2002.
I highly recommend reading the following letters from Glenn Beck (highlights shown). Glenn has opened up the members-only portion of his web site for free this weekend so you can also read any of the other things he has posted. A third letter is supposed to be posted tomorrow.
I found a new article that gave more numbers about a number of the earlier bailouts. As a result, the total bailout amount is now $3 trillion plus and counting. This has to be the most inefficient way to jump start an economy (as if it was actually doing that!) and one can only blame all incumbent politicians for continuing to spend our hard earned tax dollars for nothing.
In the US, the government has spent at least $2.636 trillion: