Washington has approved plans to bail out our American economy with $700 billion dollars. This decision seems a little insecure to me because according to the article I was reading in the New York Times even the Secretary of the Treasury, Henry M. Paulson, Jr., has warned that, "the American economy [is] at risk of the worst economic collapse since the depression." It's statements like that from a former owner the prominent Wall Street firm, Goldman Sachs, that make me nervous because he's a guy that supposed to know or be an 'expert' on finance. I'm not sure how all this will turn out (this decision). The democrats seem all for it. To me it seemed to come to fast, and the senate jumped up just a little to quickly to put tax payers' dollars on the line, but perhaps this decision may help us all out in the long run and keep us from a less severe economic recession. We'll see...
Here's the link to the article on Fri. October 3,2008:
By the way, nearly 160,000 jobs in America were lost in September. Food for thought.
Photo by Brendan Smialowski/Getty Images; retrieved from NYTimes.com.
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