The Bailout Bill
Well, it’s official. John McCain said so. “We are in the greatest financial crisis of our lifetimes.” As if Americans thought the nation was having an economic burst.
After the House failed to pass the “bailout bill” on Monday, S&P plummeted and had its’ worse day in 21 years. The $700 billion economic recovery plan was voted against by 133 republicans and 95 democrats, while 140 democrats and 66 republicans favored it. This was clearly not an easy vote for either side, especially with many Americans thinking this is a bad idea, and believing it will mean worse times for “Main Street America.”
Both candidates called to speak with President Bush about what changes they think should be made to get the bill passed. Specific ideas were not released, but both confirmed that this was an issue needing to be addressed. The same bill, with provisions such as the FDIC insurance cap raising from $100,000 to $250,000 and an added “Mental Health Parity,” will be put to the test again on Wednesday. The Senate will vote on the bill tomorrow after sundown, to celebrate the Jewish holiday, Rosh Hashana. This means that Obama, McCain and Biden will all vote tomorrow.
Obviously, now would be a great time for bipartisanship. Democrats and Republicans really need to get along with this financial crisis at hand. McCain spoke of bipartisanship, but his campaign accused Obama of putting “politics in front of the country.” Where is the bipartisanship there?
Another popular topic in politics is the first in three debates, which took place last Friday night. CNN reports that Obama leads over McCain in national polls 48-43, but that this lead is exactly the same as it was before the debate. McCain and Obama will butt heads again on October 7, a debate that I’m extremely excited about. To hear the candidates’ views and speeches, yes, but also because we will get to see our very own Bowling Green, Ohio on National TV! I’m excited to see our students’ reactions to all the politics and put-downs the debate has to offer. Here’s to you, Charles Gibson.
