The 2nd Debate

Obama thinks that the Middle Class should have a break on taxes, when McCain wants to stop the wasteful spending, help people out , and restore the economy. All these things need to happen to our economy, but our Middle Class is the one that needs the most help. McCain's plain is to give the big guys a break from taxes when they need it at all. The Middle Class is the ones that keep our country going. They work, buy things, and do other things that help support the country. Obama believes that Bush is the reason why our economy is going down hill since we had a lot of wasteful spending. He also wants to help out on the income and the wages since they are becoming flat. McCain wants to stabilize the markets, which would be good for us, but bad for them. Obama wants to cut the spending and focus on saving our money and getting out of debt. McCain blames Obama for wasteful spending and thinks that we should build nuclear plants all over our country because nuclear power is the way to go. He also thinks that he can work on health, energy, and nuclear war fair at the same time. Obama wants to work on them one at a time, but he wants to do energy first, then health, and then education. McCain's programs may eliminate defence spending, ear marks, and he recommends a spending freeze. Obama believes in the clean coal technology and wants to cut the oil companies money to save money and he would like to have leadership from Washington. McCain describes Obama as Herbert Hoover, he will cause the small business to lose their jobs instead of helping the people that make our country keep going. He also wants to reduce the income tax on the Middle Class. Obama wants to have a tax cut for 90% of Americans and wants to make an investment, but wants the people to look at their backgrounds. Meaning Obama's and McCain's background. McCain has talked to leaders that know how to run our country when Obama hasn't done anything to help him out. McCain wants to get away from the Bush Administration so he can fix nuclear power, green technology, and taxes. He wants to increase 95% of people's income taxes about $5,000 as a refund. Obama wants to lower the premium and thinks that the government to crack down on insurance companies that cheat the people. McCain wants to prevent the spreading of terr ism as well as wanting the troops to come home to a victory. Obama thinks that we shouldn't go to war and we really shouldn't be giving them our money. He thinks that if we change policies with the Iraq people then that will make everything better, and wants to find Ben La don and kill him because they are plotting to kill more Americans.

Economy

The reason why are economy is in bad shape is our government is spending all kinds of money on the war when we should have went to war on 911. Instead we go to war like a year later and we lost a lot of men. Also our money that we are puting into the war is going to the hands of a terrist who is fighting aginst us, and its not a little bit of money its a lot of money. The other reason why our economy is crapy is that our big businessess don't know what to do with their billions of dollars so they exspect us, middle class people, to bail them out.



September 14th is when the Lehman brothers were on the edge of collapsing, so they scrambled to find a buyer. The 15th, AIG was downgrading and they needed 85 billion for their bailout. The 17th the Dow dropped 450 points by the end of the day. The 18th all of the banks around the world invested in 180 billion in global financial markets. The 19th Paulson outlined the governement's plan to put up hundreds of billions of dollars to help stem the crisis, saying the financial security of all americans depend on the our ability to restore our financial institution to a sound footing. On sept.20th administration asking for $700and billion to buy troubled mortage assets and get the financial system flowing again. Sept. 21st Pelosi said we will not simply hand over $700 billion to wall street and hope for a better outcome. Sept.22nd massive federal bailout that was greeted with relief on friday sending the dow up 369 points. Sept.24th debate about the Bush administrations proposed $700 billion bailout raged on. Sept.25th Washington mutual collapsed late thursday night marking the biggest bank failure on history. Sept. 29th the house representative voted down the $700 billion financial bailout plan by a 228-205 margin. The dow plunged 777 points its largest one-day point drop ever.
the $700 billion bailout plan was the first bail out plan. it did not work because there were not enough regulations for the big bussinesses and the republicans didnt get enough support and the tax payers would have to pay it back. the billion dollar bailout that eas before congress is now passed to bail out the big businesses