President Bush has called for a plan to "bailout" financial institutions who in the past had poor fiscal responsibility. This bailout would cost tax payers 700 billion dollars and but America even further into debt (about 11 trillion$). Many Democrats disagree with Bush's initial attempt for a bailout. Democrats like House Speaker Nancy Pelosi (D-Calif), want to have protection on the money before they through it away. Pelosi said, "We will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome." This 700 billion dollar bailout would just be a temporary relief that if goes wrong would increase our debt from 10.6trillion to 11.3trillion.
DO YOU think that the government should act now or hold off for a permanent solution.
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I think that the bailout plan may not be the answer to our economic problem, however I think its headed in the right direction. It's obvious that many of todays major companies are suffering severely and some may need to be bailed out the same way they bailed out Fannie Mae and Freddie Mac. Although, to spend such a large amount of money at one time may do more harm than good. By bailing out companies when they really need it makes sure that the whole direct sum of money is going to that company. Maybe, if the 700 Billion bailout plan went through, that some of the taxes payers money may be used unwisely or get lost in the cross hairs.
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