This link has a good list of reasons to oppose the bailout as currently structured. If we don't do anything, I think the economy takes a huge hit, but we'll quickly recover. But if this plan passes, I think we set ourselves up for a greater fall
The BillThe GoodThe "ACORN provision" has apparently been removed. It now appears that the entire amount of any profit will go towards debt reduction.
(d) TRANSFER TO TREASURY.—Revenues of, andproceeds from the sale of troubled assets purchased underthis Act, or from the sale, exercise, or surrender of war-rants or senior debt instruments acquired under section
The debates demonstrated the candidate's differences when it comes to balancing the budget.
LEHRER: what are you going to have to give up, in terms of the priorities that you would bring as president of the United States, as a result of having to pay for the financial rescue plan?OBAMA: Well, there are a range of things that are probably going to have to be delayed...
The current financial crisis and the proposal to spend $700 billion out of the federal coffers should make us think twice about our government's addiction to deficit spending. This week's post focuses on the financial impacts of the candidates' budget proposals.
While I generally do not believe living in the past, I think it is worthwhile to look where we have been in order to learn from the past and determine how to move forward. Thus, while I think much of the discussion of whether we should have gone into Iraq in the first place has little use in the discussion of current policy, it is worth taking an objective look at where we have been and where there is a great deal of misinformtion being promoted in the media.