Bailout: Good or Bad?

October 1, 2008

In the 1930’s the United States entered a terrible depression caused by a “crash” in the Stock Market. Thousands were left homeless as banks failed and money was no longer distributed as freely. It is now 2008 and this country has moved beyond the possibilities of a depression…or has it. Recently the Stock Market is in turmoil. In order to stop our economy from falling into a similar depression, congress passed the Emergency Economic Stabilization Act of 2008 commonly known as “The Bailout” which allows the government to step in and purchase distressed assets. The act, proposed by President George W. Bush is also supported by rival candidates John McCain and Barack Obama. A potential negative effect of the Bailout would be an increase in taxes to cover government spending on the distressed bank assets. A minor outcry has erupted over this issue which brings to mind an important debate: Higher taxes or an unstable economy. Many people complain about how high taxes are now. While the bailout may save our economy now, the increased taxes may hurt the economy further down the road. Debates over the bailout still continue in congress.

– Dan Mann –

Advertisements

Presidential Election

October 1, 2008

As we all know there is a great debate going on in our country. That debate is the Presidential election of this November, 2008. We all know that running for the republicans is Senator John McCain and his running mate Sarah Palin. Running for the democrats is Senator Barack
Obama and his running mate Joe Biden. Recently this race has been turning into quite the controversy. As of 10/9/2008 Obama was ahead of McCain by 4% in the polls, but aside from the slight lead, the polls are nearly even. Many large population states were won by Obama in preliminary elections, so he has quite a few of the votes tied up, but McCain has won far more states in the preliminaries, which gives him quite a total also. So, now it’s a race to the finish for both candidates where they are trying to gain every advantage possible. The press is pointing out Obama’s possible connection with a member of the radical Weather Underground group. Then again, the press is also pointing to McCain’s possible participation in the 1980’s corrupt “Keating five.” Both candidates were of course innocent by their saying.

Both candidates pose a huge threat in the eyes of many Americans though. For, if either one wins then history will be made overnight, not only with the political and social changes they plan to bring either. If the republicans turn out victorious then for the first time in history a woman will be the acting Vice President who would take over in the event of the President’s demise. However if the democrats win, an African American will be the President of our country for the first time in our history.

The hardest part about voting for many Americans is that both candidates seem so able to lead our nation. McCain is a seasoned war veteran with decades of experience in leading men. Obama is a fresh face for many Americans with a promise of change and a brighter tomorrow. Both candidates have plans to get over the numerous crises we as a people are in, largely being our economy, healthcare systems, and our various wars. The final issue most Americans voted
huge, our varied wars, the candidates essentially agree on. Both agree that our troops should be brought home, but the times they stated differ. McCain said we should stay in the Middle East until they are able to support themselves in a democracy. Obama laid out a plan that would have all troops home by the summer of 2010. But residual force would remain to perform specific, peace-minded missions in Iraq.

This November as a nation we must decide who our next President will be. Either way, democrat or republican, history will be made. Encourage everyone you know over the age of 18 to get educated on the issues that matter to them, get out there, and vote. We need a solution to the crisis our country is in. Who do you think can solve our problems?

– Hannah Brady –