The Economy… and YOU.

I was watching the president’s address regarding the economic bailout, and… OK, I was actually watching The Daily Show make fun of the president’s address regarding the economic bailout.

As I watched the president enumerate the possible dangers of the economic situation, I was skeptical. Was it really as potentially bad as the president said? Or was it another one of President Von Stretch-the-Truth’s exaggerations?

Turns out I’m not alone. Many lawmakers, economists, and citizens are skeptical of the “dire situation” claims. And it’s no wonder. We’ve been sold a bad lot of goods time and time again by George W. Bush and Co. I don’t believe a word that comes out of the man’s mouth.

So, is it as bad for the average American as said? Will Congress fix the debacle? And more importantly, should I start stocking up on Top Ramen?

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5 thoughts on “The Economy… and YOU.

  1. Marc says:

    I agree, it’s not as bad as they say – unless you’re trying to get a loan. What i find terribly puzzling is how Pelosi, Obama, McCain and Bush can all support the same bailout. Pelosi’s speech before the “vote” was odd, she put all of the blame on bush and then said let’s all vote for his solution?

    The economy and capitalism will fix itself. Survival of the fittest.

  2. Marc says:

    ”From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise Institute. ”If they fail, the government will have to step up and bail them out.”

    I’d never heard of this Peter Wallison character but he seemed to be onto something in 1999 when the Clinton administration pushed to lower the standards for Fannie and Freddie.

    http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&partner=permalink&exprod=permalink

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