The bailout plan goes to the House.

The 700 billion bailout plan will go to “the house for a vote Monday”. The biggest bailout plan ever in the U.S history has been supported by both presidential candidates. The plan is to use taxpayers’ money to buy home mortgage-related assets. President Bush stated that the vote can be difficult but he is confident that congress will pass it. He believes that without the plan in action the American economy could be dreadful.

Even though congress leaders and the White House came to an agreement this Sunday, they believe that the money should be strongly controlled. This means the government can only get the money as they need it for example $250 will be given immediately, if really need $100, and lastly $350, of course this conditions can be vetoed by President Bush. Even if the plan gets the majority of votes on Monday Congressional action will not place until Wednesday. The House Republicans and Democrats have met to talk about how this plan isn’t a bailout plan it is more of a way to help the economy turn around.

Senator Judd Gregg states the bottom lines is, “If we do not do this, the trauma, the chaos and the disruption to everyday Americans’ lives will be overwhelming, and that’s a price we can’t afford to risk paying. I do think we’ll be able to pass it and it will be a bipartisan vote.” We can only hope that this plan actually work because so far Bush ideas have not work for the last 8 years. Lets believe he is actually THINKING for the peoples benefits.
http://news.yahoo.com/s/ap/20080928/ap_on_bi_ge/financial_meltdown

How can we restore our economy?

Early this morning president George W. Bush’s administration revealed a plan that can cost hundreds of billions to buy a bag mortgages. The secretary of treasury, Henry Paulson stated that this plan can out taxpayers’ money at risk. The Bush administration has asked congress to do whatever they can to review the plan and make a decision. This plan has to be good enough in order to really make a difference and make it through congress.

Paulson stated that he has discussed the plan with leaders of congress to expand the program. This plan has to be big enough to see change and protect taxpayer as much as possible. It is the peoples’ money they are putting at risk in the market. Paulson is convinced that this will help families than hurt them because we can’t continue to have financial institutions broke or credit cards frozen. The security of Americans depends on restoring financial institutions. A program like this has to well deliberate because we can’t afford to loose any more money. The program can cost the U.S billions of dollars and that is a big risk to take. Hopefully if everything goes right we can stabilize the economy, the housing system, and our financial market.

http://news.yahoo.com/s/ap/20080919/ap_on_bi_ge/financial_meltdown;_ylt=AkkQssFxda24WqyAbHlmWlas0NUE

Is Sarah Palin a Lier?

The Vice-Presidential Candidate Sarah Palin had previously mention in an interview that she had travel to Kuwait and Germany to visit U.S troops, but she forgotten to mention that she has also made a stop in Ireland in July of 2007. Sarah Palin was participating in a ceremony of the Alaska National Guard. Last week in an Interview with ABC News Palin was question on her foreign trips, and she forgot to mention her visits to Ireland for the Alaska Nation Guard ceremony because it was not “important”.

An investigation on her foreign travels it was declared that Sarah Palin had lied about her trip to Iraq visiting the U.S troops. An assistant had explain that Palin stop at a “military outpost” in Iraq, but the Global and members of the Alaska National Guard reveal that she has not gone beyond the borders of Iraq and Kuwait. Schmitt stated that Palin was “guided” be a pentagon general in Iraq, but Lieutenant Coronal Dave Osborn said that she has never set foot in Iraq. So what is the real truth?

Senator Barack Obama had nothing to really say except that the McCain-Palin Campaign lies to people. How can we really trust a candidate like Palin to help the nation when she is not even clear on her national engagements? The memo is that,” Since naming Gov. Palin as their vice president nominee, the McCain campaign has distorted, distracted and out right lied to the American people about her record in a desperate attempt to hide the fact that a McCain/Palin administration would be nothing more than a continuation of the failed Bush policies of the last eight years”. If this is true we will only find out if McCain becomes President.
http://news.yahoo.com/s/ap/20080914/ap_on_el_pr/palin_iraq_4;_ylt=AjCWq9XdtL3g.Q4Gsk9JYYNh24cA

6.1% Highest Rate of Unemployment in 5 Years

Companies have come out with plans of cutting payrolls because of the terrible economy. Workers from financial services, airlines and even from manufacturing can be home with out work because businesses want to keep making profit. In order to keep making profit companies have announce cutting down on salaries and benefits for workers. These companies believe that cutting jobs can help them grow once economy begins to recover.

In 2008, 550,000 people don’t have a job which makes 6.1 % the highest rate of unemployment in 5 years. Analysts have advice companies to be careful because dismissing to many employees can really harm the company. Dismissing skillful workers can leave companies behind in the competition and once it has to rehire they have to retrain new workers, therefore slowing production.

Analysts also advise companies to teach the workers how to reduce expenses and maybe even give workers that option of working in a different position while the economy recovers. The "no lay offs" policy protects workers from getting fire just because the economy is in bad conditions. In fact Staffers has ideas about how to get work done efficient and in less expensive ways. On the other hand you have economist for JPMorgan Chase who thinks that the U.S has at least six more months until the economy begins to recover.

This election had been the hope of the people because the right candidate can only really help the economy, so pray that people think for everyone else and make a difference.

http://news.yahoo.com/s/ap/20080906/ap_on_bi_ge/wall___main;_ylt=AiIXyOCTsmzztVhFc7lhxvys0NUE