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Out with the old ... in with the new

September 26th, 2008


What was at one point on Thursday a "sure thing" to be passed, the proposed $700 billion bailout proposed by President Bush ultimately was shot down leaving the quagmire the U.S. economy is in without resolution.  Democrats announced a new measure, a bailout to the tune of a mere $56 billion.  The proposal includes an extension of unemployment benefits and state assistance to pay for Medicaid.

Many believe, however, the proposed plan will stall in Congress leaving the economy with no "quick fix" solution.  One thing is for certain, Republicans and Democrats are working on coming to an agreement on a stimulus plan and it shouldn't be too long before we have one signed, sealed and delivered to the economy.

There has been ongoing talks of a second tax rebate plan as part of a separate stimulus plan not exactly related to the one being proposed now.  Neither Republicans nor Democrats have been eager to push the second one through to the President's desk, but one wonders if that plan's status shouldn't be elevated in importance.  Would another rebate check sent out to American's help with the financial stress this country is in?  Did the first one help, hinder or do nothing to fix or aid the economy?

Comments

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