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…

First they were upset because Sarah Palin hasn’t been invited to appear on Oprah Winfrey’s program, even though the latter has openly stated that she supports Barack Obama. Several Republican women’s groups have asked viewers to boycott Oprah’s show.

Now they’re upset because PBS’ Gwen Ifill, who is scheduled to release a book in January which analyzes the new era of black political leaders (obviously including a section on Barack Obama), is moderating tomorrow night’s Vice Presidential debate.

They want Sarah Palin to appear on Oprah. They don’t want Sarah Palin to be questioned by Gwen Ifill.

Hmm!

Let me see, the neocons are trying to discredit both Oprah Winfrey and Gwen Ifill.

What do Oprah and Gwen Ifill have in common?

?????

Still Thinking …….

Still Thinking …….

Ah yes, they’re both members of that evil, elitist, left wing media.

Well, if Sarah Palin is worried about Gwen Ifill being biased she can always ask John McCain to sit in the audience. That way he’ll be able to run up on the stage and answer any questions that he feels are too hard for Sarah to handle. After all, Sarah has been listening to Joe Biden since she was in the second grade and seems to be in awe of his experience.

This is getting to be too ridiculous

Related posts:

Ifill’s Book Is No Secret.

Oprah: Sarah Palin Can Come On My Show After The Election

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?

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.]

Today, in a rare moment of representative democracy, the U.S. House of Representatives listened to voters and failed to pass the $700 billion bailout bill. While it may have been a bombshell to many, the fact is, it was American Democracy at work.

Legislators across the nation were bombarded with emails and calls from constituents saying, “Do not pass this bill.” According to the Rasmussen Consumer Index, fifty percent of Americans oppose the plan, and 63% of Americans worry that the government will do too much.

Today, legislators listened, and they responded. But this is in no way the end. The way I see it, the decision to stall the vote until Thursday is an opportunity to get it right.

Ever been in a crisis? If so, you’ve heard those you trust—whether a clergy member, financial planner or therapist—tell you, “Never make major decisions in the midst of a crisis.” And we’re all familiar with the term, “haste makes waste.”

Three days away (back home closer to their constituents) just may do our congressional leaders some good. It will allow each of them a chance to step away, clear their head.

The bottom line is, everyone in Congress is admitting that the current bailout bill is a “bad” bill they don’t want to pass but feel they must. But, what’s so wrong with having the courage to say, “This bill is bad, but I believe we can do better…and we must.”

This congress has an opportunity to not settle for the lesser of two evil bills (Paulson’s and now the enhanced version). Congress has an unprecedented opportunity to say, “We are committed to the American people. We are elected to be the best possible stewards of taxpayer dollars. We will not sell the taxpayer short. We can do better and we will.”

Come back on Thursday— huddle, compromise, study, research, write and rewrite, ask tough questions, demand answers, and compromise some more— and then come back with a plan that you can vote for with dignity. Popular legislative sentiment is that to “do nothing” is unacceptable. No. To do “just anything” lacking any real confidence in its merits or assurances of its success, is unacceptable.

Congress, please, for the sake of the American people, go back to the drawing board.

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

Heather and Eric from Care2 rant and rave about this week in politics…