The Economic Crisis

[ZekeBud]

So, the Democrats (Pelosi in particular) have claimed that they held up their end of the bargain here. Essentially, they are pointing at Republicans for halting the bill.

I must ask: what about the 95 Democrats who chose to oppose the bill? What went so wrong as to drive out those members of her own party? How does Pelosi account for that?

I really dislike the idea of Americans having to dole out more money, only to be given in a place where government has oversight. Since when is more government or governmental oversight is good thing?

I'm really disappointed in my Congressman for voting to support this bill. However, I'm glad that it didn't pass. An effort where Bush and the Democrats are in concert in a spending proposal is absolutely frightening to me. It's good to know that there are representatives who still care about what their constituents think.


Edit: There were 95 Democrats against the bill, not 65, as I had earlier stated. That's an even bigger deal! Pelosi seemed to fail at this one.

[falcon eye40]

Why do you think the $700 billion help plan was rejected in congress?

[Sheogorath]

It is because a lot of people don't want the government to interfere with the market economy, they believe that the government should keep its hands off of the market, as this could really help us in the long run.

Others just want more protection for taxpayers dollars

[gneissisnice]

Im not so sure. I mean, Laissez Faire (or however you spell it) economics definitely didnt help during the great depression. But it just seems to me that the $700 billion bail out is solving the symptoms, not the cause. Then again, Im an expert on ecology, not economy, so I could be totally wrong.

[Sheogorath]

Well you see, there are some that believe that a depression or recession is good for the economy as it helps get rid of all those who can't survive, and thus they believe that hands off the market by the government will be good in the long run. There are some that think we would be a lot better off right now if FDR did not initiate the New Deal. And I'm not talking about some select few crazies, there are respected economists who believe this. They think that by trying to help we are actually not doing ourselves a favor.

[falcon eye40]

that mad absoulutly no sense at all

[Sheogorath]

Yeah it does, just read a newspaper, watch CNN or MSNBC, or take an Economics/Government/US History course.

[gneissisnice]

Im gonna agree with Falcon on that. I know that its ok to be in a small recession, but a full blown depression cant be that good for the nation. And its kinda cruel to let a depression weed out those who cant survive, because how do you expect a waitress, or a gas station worker, or something to come out of a depression soundly? Its not right.

[Sheogorath]

Of course it's cruel and not right, yet these "market utopians" believe this sort of stuff. Let the market be they say. Watch some money clips on CNNFN and you'll see these types of people.

[bah]

The Senate passes a modified rescue plan that includes an increase in the FDIC limit to 250,000 dollars and tax cuts for individuals and businesses that use renewable energy, like solar panels. The House votes on this on Friday.

http://money.cnn.com/2008/10/01/news/ec ... tm?cnn=yes