The VP Debate Followup + the Economy

I don't really think that this video needs an introduction. I have a feeling that most cognizant Americans will have seen or heard about it by tomorrow, so I figured I'd just keep up with the latest trends. Maybe one day that will make me....trendy. Unlikely.



In my last post I said that I would talk about the 700 billion dollar Wall Street bail out plan that was passed last Friday by over 2/3 of the House and Senate. I'm going to just say, right off the bat, that economics are not my strong suit. (However, I am also not running for president...but maybe I could be?) It has been a long two weeks for any American with a stake in the stock market...and the Americans like me who don't...okay, it's just been a long two weeks...two months...eight years. We're all affected. Unemployment is increasing faster than it has in five years. The Dow Jones lost 777.68 points on Monday when the House rejected the first bailout bill. This is the largest one day loss in history. Even after the House passed the revised bill on Friday, the stock market still lost 157 points.

So what does this mean? You're damned if you do, you're damned if you don't? The thing is, no one seems to know exactly what to do or what is going to happen. Even after listening to hours of radio and news broadcasts and reading dozens of articles of "expert analysis," I still find the subject to be confusing; and I am not in the least bit reassured that this bill is going to actually benefit me or my country. The "economic recovery plan" is by no means a guarantee. In fact, the $700 billion was just a randomly picked number. Yup. It just sounded good.

I know that the big buzzword this election year has been Change. It has been reiterated so frequently that it has become just more empty rhetoric, an optimistic platitude. However, when it came to voting for this bill, both Senator Obama and Senator McCain were in full support. How exactly does their support for bailing out a failed system reflect their willingness for change in Washington? Especially after packing it with pork in order for Congress to pass it? We're talking tax cuts for makers of wooden arrows and worsted wool, racetrack operators, film producers and rum importers. Seriously. If I were a politician, I would be thinking twice before jumping onto the back of a plan that was so heavily courted by the Bush Administration (who gave us nonexistent WMDs, Mike Brown, Scooter Libby, Alberto Gonzales, etc.). Bush appeared on the White House steps Friday just to congratulate Congress on a job well done.

However, I am certainly not a politician or an economist. I can only come to my own conclusions after becoming as informed as my free time allows...and after this week I know that I will be making very careful choices when it comes to which Congressional Representative will get my vote this November.

Just to note: Tuesday is the second Presidential debate in which the candidates will be taking questions from the audience...as far as I can tell...information is a little scant. I will be working that night and my response will be coming as quickly as I can sit down to watch.