The Political Voices of Women

If you thought the passing of the $800 Billion Dollar Bailout bill was going to make things better in our economy by today, you would have been wrong. It’s obviously going to take time. The question is…How much time?  Let me know what you think about the potpourri of economic news today?

Reuters – DOW Touches 5-Year Low…

Associated Press – Barack Obama said Monday that John McCain is trying to shift attention from the troubled economy because the issue is bad for the Republican presidential nominee’s campaign.

LA Times – On the day that the Dow Jones industrial average fell below 10,000 for the first time in four years, President Bush said this afternoon that “in the long run, this economy is going to be just fine.”

Barack Obama gives a press conference on the economy in Asheville, North Carolina on October 6, 2008.

Words of wisdom by Bush on the declining economy…

Let me get this straight. We needed to rush a $800 Billion Dollar Bailout Bill into law to save the economy. But, now we can not expect this bailout to help any time soon. Bush wants to take it slow, not rush into it, and make sure it is done right.  This whole bailout crisis, is so reminiscent to the WMD Iraq crisis, it’s almost scary.  And, this is how he is solving the problem from Washington, even though he is speaking from Texas. Is anyone else shaking their heads in bewilderment?

What do you think about the economy?  Who do you think can do a better job of fixing it?  Obama?  McCain?

Here is a guest post from community member Marcella Peralta Simon.

[If you would like to be a guest blogger on The Political Voices of Women, just join our community, and start posting.]

I voted yesterday in Fairfax county, VA and immediately crossed it off my to do list, now the next items are “get flu shot” and “prepare presentation for conference in Spain”. But I have a funny feeling…

When I presented my absentee request, I was shown as having been “deleted” on their database. How did that happen? Makes me nervous that the Republican masters in Richmond are up to no good and are secretly deleting Democractic voters from the rolls so that when the time comes to vote, it will be too late. Am I being paranoid?

I also am beginning to come to the horrific realization that bailouts are not going to solve the problem looming before us. There is a two page ad in the NYT today, pages 6 and 7 which outlines the crisis and correctly states that neither candidate offers a complete solution to the mess we are in. There will have to be fundamental changes and some will be politically untenable. Then I realized that Obama just needs to look steady in the debates to win but what a mess he will inherit! Am I being a pessimist?

There are too many questions unanswered, too many experts that disagree, too many joe six packs and lipstick wearing pigs running through the landscape of serious political discourse. It is enough to give anyone a funny feeling.

The Bailout Bill has just passed.   I will include more links and video to this post as I get it.  Until then, what do you think?

From The Associated Press..

With the economy on the brink and elections looming, Congress approved an unprecedented $700 billion government bailout of the battered financial industry on Friday and sent it to President Bush for his certain signature.

The final vote, 263-171 in the House, capped two weeks of tumult in Congress and on Wall Street, punctuated by daily warnings that the country confronted the gravest economic crisis since the Great Depression if lawmakers failed to act.

I will continue to update this post.

UPDATE:

Let’s talk about the pork…

Speaker Pelosi on the passage of the Bailout Bill…

President Bush responds to congress passing Bailout Bill…

Ron Paul spoke against this Bailout before the House vote…

The Senate has just passed the $700 billion dollar bailout bill.

Sen. Bill Nelson (D-FL) speaks on the Senate floor, in opposition to the $700 billion bailout.

Senate passes $700 Billion “rescue” Bailout Bill…

After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, winning lopsided passage in the Senate and gaining ground in the House, where Republicans opposition softened.

Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25, a month before the presidential and congressional elections.

From The Swamp…

In a rare show of bipartisan spirit, both of the presidential candidates also have lent their support to the measure. And both left the campaign trail to lend their votes to passage of the Senate bill.

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If we are going to spend this money anyway.  Why not give it to the people?  This would not be a trickle down affect, it would be an explosion from the bottom up affect…PROBLEM SOLVED.

Should we give the people’s money to the failed banks, and hope they don’t continue to fail?  Or, give the people’s money to the people, and know they will spend it, buy homes, pay off mortgages and debt?  Give the people the opportunity of really having the American dream.

This is from a comment on a post I did on the Bailout for The Care2 Election Blog.  It makes a lot more sense to me than what is being offered now.  What do you think?

From Care2 member Laura C…

Yes, we resent it and have good reason. Those in power taking high salaries from us are never made to pay. The following email some of you may have received. It is the best idea I’ve heard and should be sent to every congress person and the president.

Now here is the idea of how to save the economy ………

I’m against the $85,000,000,000.00 bailout of AIG.

Instead, I’m in favor of giving $85,000,000,000 to America in a ‘We Deserve It Dividend’.

To make the math simple, let’s assume there are 200,000,000 bonifide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a ‘We Deserve It Dividend’.

Of course, it would NOT be tax free. So let’s assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage, housing crisis solved. Repay college loans, what a great boost to new grads Put away money for college, it’ll be there Save in a bank, create money to loan to entrepreneurs. Buy a new car, create jobs Invest in the market , capital drives growth.

Pay for your parent’s medical insurance, health care improves Enable Deadbeat Dads to come clean, or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we’re going to re-distribute wealth let’s really do it…instead of trickling out puny rebates.

If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18+!

As for AIG liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.

Here’s my rationale. We deserve it and AIG doesn’t.

Can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion ‘We Deserve It Dividend’ more than I do the geniuses at AIG or in Washington DC.

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
And all those who lost jobs when these companies folded will have a new financial beginning!!!!
Is there a better plan than this?????

And, this is what I think…

I was thinking the same thing. It not only would be better for the people of this country (both struggling and not)…But, it kick starts the economy almost immediately. It seems a total no brainer, AND it’s a guarantee election win for the person who suggests it. This money would trickle UP much faster than anything would ever trickle down (we know trickle down does not work).

There is no way the economy wouldn’t make a quick recovery with a plan like this. It’s a win win for the entire country. WHY DOESN’T ANYONE SEE THAT? Is it because of all the money given to politicians from financial institutions? That’s the only explanation I can think of. I’m so sick that our government is willing to use 800 Billion of our tax dollar for something that (I don’t care what they say) really doesn’t affect or help the average American. Invest in the people of this country.

This is the perfect opportunity for REAL CHANGE!!! Why is Obama not taking advantage of this opportunity to help the entire country? Why is he just following along with a Bush plan for the economy??? Why is he agreeing with McCain??? What kind of change is he really offering? I will vote for him…But, I am VERY disappointed in him.

WHAT DO YOU THINK?  With all this money, why can’t we bail out the people first, and let the people bail out the banks?

This is an interesting question. Are you better off than you were eight years ago? Do you know anyone who is? Just wondering. Let me know in comments.

So, the bailout was rejected, and the DOW tumbled 777 points.  Is it the end of the world as we know it? Let’s take a closer look at the bailout. What are the pros and cons? How did we get here? Who is to blame? And, most importantly…What do you think?

My personal (non financial expert) opinion:  If you don’t have much money, you probably haven’t lost much.  If you have a bunch of money, you might have lost a bunch.   Of course, as always, the middle class will be hurt the most from this crisis.  They are already struggling, and bailout or no bailout, the middle class stands to pay the greatest price.  But, that’s just my opinion, and I’m no financial expert.

Understanding the bailout…

How does this affect the presidential election?

Read more »

Just in case you missed it. Here is the skit with Tina Fey as Sarah Palin, on Saturday Night Live…

Also see last weeks SNL Palin Clip

Here is a guest post from community member Anita S. Lane.  You can read more from Anita at her blog Unconventional Politics.

[If you would like to be a guest blogger on The Political Voices of Women, just join our community, and start posting.]

Majority of Americans Don’t Want a Bailout and Are Willing to Suffer the Consequences!

Estimates reveal that the proposed $700 billion bailout plan will cost $2,333 for each person in America. For my family that means $13,998. Hec, I’ve got my own debt to pay down.

As it turns out, I’m not alone. Many Americans (about 1/3) are not inclined to support this bailout. Another third will consider voting for the bill only if it’s done right—and I fully understand.

Treasury Secretary Henry Paulson and President Bush assert that if we don’t approve the bailout, and I paraphrase, “all hell will break loose.” And if it does? …

What I and most Americans want to know is whether this plan will serve as a temporary bandaid that just postpones the inevitable, or will it incorporate systemic policy changes that will help prevent a similar crisis in the future?

No New Crisis
Truthfully, many of us in America are pretty fed up and are willing to just let the whole thing burn. Most of us have already been burned. Middle and working class American families have been in a crisis for a while. Between rising gas, food and energy prices, depreciating housing values, layoffs and few raises to offset the cost of living increases, ordinary Americans have been looking for our own bailout plan, and it just doesn’t exist.

Now, the treasury and the President wants each American to dig a little deeper into our own bleak pockets and cough up $2,333 per person to rescue Wall Street—effectively increasing our record high national debt by almost an additional trillion dollars.

Treasury Secretary, I’m sorry to inform you, but we cannot afford a bailout of this magnitude. We simply don’t have it. There has to be another way. Keep thinking…

Debtor Nation
Increasing our current $10 trillion debt by another $700 billion just cannot be sound financial policy. Is it fair that a few folks on Wall Street could so detrimentally impact the masses? No. Should someone be held accountable? Sure, but the bottom line is, if we Americans are willing to take our chances and decide we aren’t willing to bailout Wall Street, then let it be our decision—you know, “we the people?…”

But what if Wall Street crumbles? Well, we’ll just have to take it and make some good ol’ American apple crumble. Americans know how to bounce back. We always do. If our paper house burns down. Little-by-little, we’ll just build it back up again. That’s old-school. That’s the American way. There simply are no short fixes and get-right-quick schemes when it comes to finances.

Sorry, King Paulson.

With all the McCain hoopla over the last two days, you may have missed the Sarah Palin interview…I know I did.  But, this is the woman that could literally be a heartbeat away from the presidency.  You need to see this.  Much of this interview is quite unbelievable.   You can watch the first two clips and see the full Palin interview, or see additional clips of her answers to specific questions.  And, just because we can all use a good laugh…If nothing else, check out the last video clip, it’s really funny.   Don’t forget to let me know what you think in comments.

See Full Palin Interview With Couric – Day One…

See Full Palin Interview With Couric – Day Two…

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