Economic catastrophe
Seven hundred billion dollars. Seven hundred billion. Apparently, that's $3000 per person in taxes. This is going to be catastrophic for the economy whether they tax us or not. Will the $700 billion even do anything more than slow down the inevitable?
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Bush to speak on bail-out debate
link | Sept. 25, 2008 (GMT)
US President George W Bush is due to address the nation shortly, amid more wrangling in Congress over a $700bn (£378bn) bail-out of financial markets.
He will call for support for the rescue plan, which is dominating US politics.
Mr Bush has also invited Republican and Democratic presidential candidates John McCain and Barack Obama to the White House on Thursday to discuss the deal.
On Wednesday the two campaign rivals disagreed on delaying a TV debate over the economic turmoil.
Mr McCain says he is suspending his campaign to help with the crisis, but Mr Obama says voters now need to hear from the candidates more than ever.
In a joint statement, the two candidates said that all parties should co-operate to avoid an "economic catastrophe".
Mr Bush will make his televised address at 2100 EDT (0100 GMT).
His administration is calling on Congress to approve the costly bail-out - under which the Treasury would use public money to buy bad debt from troubled financial institutions - as soon as possible to prevent further harm to the economy.
But lawmakers from both the Democratic and Republican parties have voiced doubts about the plan and the speed at which they are being asked to approve it.
They want assurances that it will benefit ordinary American home-owners as well as Wall Street, and be subject to adequate oversight.
Debate row
Both of the candidates in November's presidential election have been speaking out on the issue.
Mr McCain, the Republican candidate, said he was suspending his campaign to return to Washington to help agree a deal, saying he feared the rescue package would not pass "as it currently stands".
He also called for his first presidential debate with Democratic candidate Barack Obama on Friday to be suspended - something Mr Obama did not support.
Americans needed to "hear from the person who in approximately 40 days will be responsible for dealing with this mess", Mr Obama told journalists.
Both candidates have, however, called for a bipartisan approach to passing a bail-out deal.
Earlier in the day US Federal Reserve chief Ben Bernanke said the US economy risked "serious consequences" if swift action was not taken.
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We are a country in an absurd amount of debt. We need to stop spending money we don't have. We need to stop buying and start producing.
On a side note, the Federal Reserve is not to be trusted. The Federal Reserve is not a government branch and imposes illegal income taxes on Americans.
On a happier note, happy autumn as of September 22nd!
---------------
Bush to speak on bail-out debate
link | Sept. 25, 2008 (GMT)
US President George W Bush is due to address the nation shortly, amid more wrangling in Congress over a $700bn (£378bn) bail-out of financial markets.
He will call for support for the rescue plan, which is dominating US politics.
Mr Bush has also invited Republican and Democratic presidential candidates John McCain and Barack Obama to the White House on Thursday to discuss the deal.
On Wednesday the two campaign rivals disagreed on delaying a TV debate over the economic turmoil.
Mr McCain says he is suspending his campaign to help with the crisis, but Mr Obama says voters now need to hear from the candidates more than ever.
In a joint statement, the two candidates said that all parties should co-operate to avoid an "economic catastrophe".
Mr Bush will make his televised address at 2100 EDT (0100 GMT).
His administration is calling on Congress to approve the costly bail-out - under which the Treasury would use public money to buy bad debt from troubled financial institutions - as soon as possible to prevent further harm to the economy.
But lawmakers from both the Democratic and Republican parties have voiced doubts about the plan and the speed at which they are being asked to approve it.
They want assurances that it will benefit ordinary American home-owners as well as Wall Street, and be subject to adequate oversight.
Debate row
Both of the candidates in November's presidential election have been speaking out on the issue.
Mr McCain, the Republican candidate, said he was suspending his campaign to return to Washington to help agree a deal, saying he feared the rescue package would not pass "as it currently stands".
He also called for his first presidential debate with Democratic candidate Barack Obama on Friday to be suspended - something Mr Obama did not support.
Americans needed to "hear from the person who in approximately 40 days will be responsible for dealing with this mess", Mr Obama told journalists.
Both candidates have, however, called for a bipartisan approach to passing a bail-out deal.
Earlier in the day US Federal Reserve chief Ben Bernanke said the US economy risked "serious consequences" if swift action was not taken.
---------------
We are a country in an absurd amount of debt. We need to stop spending money we don't have. We need to stop buying and start producing.
On a side note, the Federal Reserve is not to be trusted. The Federal Reserve is not a government branch and imposes illegal income taxes on Americans.
On a happier note, happy autumn as of September 22nd!