Donklephant » Blog Archive » Economic Rescue Package Vote Set For Tomorrow

Economic Rescue Package Vote Set For Tomorrow

By Justin Gardner | Related entries in Congress, Economy

But this time it’s in the Senate.

Why is that important? Because they’ll vote overwhelmingly in favor of it and force the House Republicans into a situation where they are literally the last ones in line to stop the rescue.

From Wash Post:

Leaders of the Senate, where most members have indicated support for the bailout plan, said they would seek a vote on a revised rescue package Wednesday night.

The bill is expected include three provisions aimed at winning over House Republicans: a one-year increase in Federal Deposit Insurance Corporation caps for bank and credit-union accounts, extensions of numerous business tax breaks that have expired, and a fix to the “alternative minimum tax” for individual taxpayers.

Honestly, I wish they would have gone this route in the first place, but beggars can’t be choosers.

Meanwhile, in Europe…

This entry was posted on Tuesday, September 30th, 2008 and is filed under Congress, Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Economic Rescue Package Vote Set For Tomorrow”

mdgeorge Says:
September 30th, 2008 at 9:29 pm
heh, I thought you wrote “bloggers can’t be choosers” :)
NVMojo Says:
September 30th, 2008 at 10:22 pm
I wish they’d consider the DeFazio “No Bail Out” plan, make Wall Street earn the money it needs: http://bit.ly/fwrnw
Mikeb302000 Says:
October 1st, 2008 at 6:05 am
How about that Marcy Kaptur?

http://www.youtube.com/watch?v=S27yitK32ds
BenG Says:
October 1st, 2008 at 6:44 am
Justin,

This ‘rescue’ plan (as if changing the name will change the results) is just getting more difficult to swallow. Every time another expert offers their theory to avert this crisis we have to guess what their interests are, who they’re speaking for, do they have practical experience or only book smarts, and finally what’s their political bias???

Add to that the stress a Congressman has to represent their constituency, and this must be a tough sell - not to mention running for re-election. So what’s a poor lawmaker to do? How about stayin on top of this stuff in a reasonable, honest way and not gettin in this no win situation to begin with?

Well, since that’ll never happen, what do we do now? The more I hear about the Senate proposal with all the new add-ons, the more I don’t like it. As important as it is to get something done, it seems more important to do the RIGHT THING! Because every thing the politicians do have unintended consequences in the markets. The ship is sinking, the Fed is bailing water as desperately as it can, our leadership is CLUELESS, as the ordinary person sees it. Good time to buy some stocks - great time to buy a house! Any mortgages out there to be had? This is exactly why you always need to have cash on the ready.

Name (required)

Mail (will not be published) (required)

Website

NOTE TO COMMENTERS:

You must ALWAYS fill in the two word CAPTCHA below to submit a comment. And if this is your first time commenting on Donklephant, it will be held in a moderation queue for approval. Please don't resubmit the same comment a couple times. We'll get around to moderating it soon enough.

Also, sometimes even if you've commented before, it may still get placed in a moderation queue and/or sent to the spam folder. If it's just in moderation queue, it'll be published, but it may be deleted if it lands in the spam folder. My apologies if this happens but there are some keywords that push it into the spam folder.

One last note, we will not tolerate comments that disparage people based on age, sex, handicap, race, color, sexual orientation, national origin or ancestry. We reserve the right to delete these comments and ban the people who make them from ever commenting here again.

Thanks for understanding and have a pleasurable commenting experience.