That’s What He Said

Senate voting on $700bil “Rescue” Bill Today after House Bailout Bill Failed on Monday

Posted in Economy, Politics by wolfsbayne on October 1, 2008

A couple days after the 110 page Bailout bill failed passage in the House, the Senate is trying to pass their 451 page version of a Bailout bill. However, the Senate are adding several other bills to the old House Bailout bill, and are now calling it a “Rescue” bill.

Barack Obama addressed the Senate today and claimed that the economy might correct itself, but he still wants the $700bil the for which the Rescue bill calls. Meanwhile, McCain hasn’t been on the floor of the Senate, and he may not address the legislative body prior to their vote this evening.

One of the notable additions was the Tax Extender Bill, which was added at a cost of $100bil to the Rescue bill, and is not offset.

Review the bill below.

senate bailout bill – Get more Docstoc Buzz

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Failed “Bailout” and Dave Ramsey’s Common Sense Fix to the Economy

Posted in Economy, Finance by wolfsbayne on September 30, 2008

Interesting that many of Obama’s supporters in the Democrats’ Congressional Black Caucus, including Jesse Jackson Jr., of Chicago (where Barack’s from), voted “no” to the “bailout” bill. As I predicted, those Dems close to Obama are dragging their heels to resolve the financial problem because they know the longer there’s a “crisis” it will play into Obama’s favor, even though McCain had nothing to do with it. In all, 94 Democrats voted “no” for the “bailout” bill. As we should know, McCain called for reform and oversight into Freddie and Fannie a couple years ago while Dems blocked the proposal, because some of the Dems’ biggest supporters were running Freddie and Fannie. The everyman is as polar and ignorant as ever this year. However, I’m glad the bill didn’t pass, but for different reasons, obviously.

What does financial expert, Dave Ramsey, have to say about fixing the economy? Take a look at Dave’s proposal in the following pdf.

Dave Ramsey The Common Sense Fix to the Economy – Get more Docstoc Buzz