Economy-Bailout

toc The Economic Bailout William M. And Lauren S. =What is "the bailout"? = A bailout or rescue plan is when a government, bank, or corporation puts money into its economy. It is used to get the economy out of a bankrupt or close to bankrupt economy. This is usually for a short term fix ([|Wikipedia]). The Treasury Department submits a bill to promote market stability, and help protect families and the U.S. economy. |([|Ustreas]) =What are the hot topics? = The bailout might help the economy, but it might hurt the United State's health care plan [|(Reuters)] The money from the bailout plan, 700 billion dollars, would get more money flowing into the banking system. [|(Hosted)] Obama would give homeowners ninety days to try and get their mortgage in if they are really trying to live there, not just get profit off of it. This topic is so important because it has the economy in its hands, if the government had not thought of this plan we might have gotten ourselves into a recession. [|(CNN Edition)] Obama's plan might help the middle class's taxes but it would increase the upper class and upper middle class's taxes. [|(Orange County Register)] 

What are the Canidates' positions?
McCain postponed a campaign in Washington so he could work on the bailout bill. [|(Scholastic)] "No taxpayer money should bailout real estate speculators or financial market participants who failed to perform due diligence in assessing credit risks." [|(John McCain).] McCain would help many Americans to get their mortgage off their backs with 700 billion dollars (Nytimes Elections). Obama added another 60 billion dollars to his rescue plan to help middle class Americans, to use as tax cuts and other benefits (Washington Post Voices). Obama's rescue plan would include the 700 billion dollar bailout package to help people with their mortgages, so it is easier for them to pay it. [|(Barack Obama)]He is putting 50 billion dollars so one million people don't lose their jobs. ([|Barack Obama]) They both want the bill to be passed and put into action. ([|Barack Obama]) Obama would give more relief to middle class Americans in tax breaks ([|Washington Post]). McCain would provide more relief to senor citizens and their retirement in his "rescue plan." ([|CNN Edition]) McCain would use money to buy houses of people with troubled finances so they can keep them. ([|Sacramento Bee]) McCain thinks people should stop calling it a Bailout and start calling it a "rescue" [|(Swamp Politics)]

media type="youtube" key="Z8uciOw8CcU" height="344" width="425" This video is from the first presidential debate at the end the host asks McCain, what priorities they would you adjust because of the bailout if you became President. McCain responded said  “Look, we, no matter what, we've got to cut spending. We have -- as I said, we've let government get completely out of control.” This picture is a perspective for some people. The people feel that the bailout is not helping them. So the money is going to the banks, but then the family can't pay their mortgage that is why their house is getting crushed. [|(Black Commentator)]

This house is being foreclosed; it probably got foreclosed because the person that owned it could not pay the mortgage. The bank probably took it and is trying to sell it. This is the one big reason the bailout is needed to be used because the banks don't get that money back. ([|Ehow])

media type="youtube" key="kFB6YzA5w08" height="344" width="425" (Bloomberg) This Youtube clip from Bloomberg is about the bailout plan and what it is turning into.