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Obama urges Congress to quickly pass rescue plan

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CHICAGO (Reuters) - President-elect Barack Obama on Saturday urged lawmakers to quickly pass at least "a down payment" on a new economic rescue plan to help resuscitate the ailing American economy.


Added on: Tue Dec 16, 2008 11:23 am by : simon

     
The Congress certainly needs to work fast. With each passing day the situation is becoming graver for the limited income family. The Fed has planned to throw the lifeline of $700 billion to the drowning financial market, which will allow it to buy the bad assets of the banks for the coming two years. The government is expecting that it will encourage the banks to expand mortgage loans which eventually will restore the market.

However, I can't clearly see the benefits that this policy may generate for the common Americans. Can anyone help me see it?


sdchargersfan
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Ok.........I agree with SIMON. If SOMETHING isn't done, it could get to the point where Americans JUST can't 'live' anymore. We're losing our homes, cars, etc. However..........don't 'scream' to Congress ( or anyone else, for that matter..) and say you need help when 'you' are driving ZILLION dollar cars and have 'every comforts of home.' I think everyone understands my point here.


fireyone
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This is all way to complicatred to explain. This is a thread for Gary...


sdchargersfan
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Obama has made several 'comments' on what he wantes to try and do.....help the Americans, is what he says. Hopefully he can. If 'you' look around, seems like the USA will NEVER get out from under all of the 'mess' unless someone REALLY puts their foot down.


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