Bush: Bailout plan necessary to deal with crisis

George W. Bush, the President of the United States of Anerica is concerned about the economic standing of the country. He said "our entire economy is in danger," and made a $700 billion bailout proposal. After the collapse of several influental money lenders, in the morgage market it became very obvious that our country is in a financial crisis. President Bush feels that this $700 billion perposal is the approprate action in regards to the given circumstance we are currently in as a country.

Bush feels that if the proposal passes it will allow the country to have confidence in the current market. Although Bush normally doesnt support government involvement in business, he feels that the current conditions the country is in is not normal, and that with the market not working the way that it should be, there needs to be action. Without action, the United States may be in a panic. "Bush said that if this proposal does not pass, the country would have to face a "long and painful recession."

The current Wall Street crisis is considered to be the worst the nation had faced since the end of WWII. Even the Federal Reserve cheif Ben Bernanke warned Congress to take action on this bailout package that is being proposed. Congress has to make the decision on whether or not they should allow the feederal funds to by up $700 billion in morgage related securities that has caused instablity on Wall Street, and credit markets throughout the world.

I think that this proposal isn't a typical decision that President Bush would make, a decision like this is normally thought of being a democratic decision because they are looking out for what is better for the group versus what is better for individuals. But like President Bush said, that our economy is not functioning. He feels that this would be able to stablize the economy, which at this point is very necessery.


http://www.cnn.com/2008/POLITICS/09/24/bush.bailout/index.html