Bush Invites McCain & Insane To Talk Bailout - With Presidential Address To Nation On Crisis
WASHINGTON — With extraordinary stakes on the line, President Bush has invited both presidential candidates and the leaders of the House and Senate to the White House on Thursday in hopes of securing a bill to rescue the economy.
Bush took the unusual step Wednesday night of calling Democratic Sen. Barack Obama directly to invite him to the meeting, White House press secretary Dana Perino said. An Obama spokesman said the senator would attend. The White House has also invited Republican Sen. John McCain.
Perino said the goal of the session is to make progress — fast — on a bipartisan solution to the biggest economic crisis in decades.
She said the call between Bush and Obama lasted several minutes and was “a good conversation.”
Obama spokesman Bill Burton said the Democratic presidential contender “will continue to work in a bipartisan spirit and do whatever is necessary to come up with a final solution.”
The move by Bush came just a short time before he was to address the nation about the financial crisis.
Details of the meeting were still being determined.
(AP)
Here is the President’s address to the nation on the economic crisis…
Nods to MsUnderestimated.
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I still don’t support the bail out. There are better ways to take care of this. If anyone thinks that 700B will crush the world economy, they are crazy. Let the chips fall, it will hurt me an my family too but we will all be stronger for it. This bail out is a BIG step towards socialism.
And do the research, this ‘crisis; we are having is at the hands of Democrats, too bad so many people actually believe the bullshit that BHO spews. I hope McCain straightens the electorate out on Friday night.
September 24th, 2008 at 6:14 pmNot in favor of the bailout.
Bush made the correct call by inviting both McCain and Obambi into the discussion. One of them will have to deal with the aftermath of the Dems mess.
September 24th, 2008 at 6:24 pm.. listen it is a step toward socialism.. but some elements of socialism are already present in the system and we cannot nit pick.. This is the system we must work with.. and the 700 billion if this plan works would MAKE THE TAX PAYER MONEY!!! SO STOP THE DIVISIVE “This is socialism” crap..
September 24th, 2008 at 6:42 pmThe government is not supposed to “make money”. They aren’t supposed to “own” anything. That is what FREE markets and capitalism is all about. The more government control, the less freedom. No ifs, ands or buts. For the socialistic parts that are present, well, they should be repealed. The biggest one, by far is Medicare and Medicaid … but the old people won’t let it go. And as far as the plan to “make a profit for the tax payers” … THAT IS A PIPE DREAM. Like we would ever know if debt from the bailout ever got paid back. They would mix this debt with all the other debt and have us running around for decades saying we still owe some money. You cannot, honestly, think that some future president (R,D or I) and the Congress in some number of years is going to give it to us (or our grandchildren)? You have to be off your rocker. The money will be stolen and/or wasted on some other socialist government program.
I do not appologize for being a conservative and IMAO, this bail out plan sucks. Maybe McCain has a better plan, I know he was talking with Mitt Romney yesterday. Maybe Mitt got his business friends together and told McCain what to bring to the table tomorrow. I can only hope.
BTW, I don’t mean to offend anyone who is now having trouble paying their mortgages but, the truth is, if you didn’t realize the interest rates were at the lowest levels ever and then went with an ARM loan expecting the rates to stay that low … well, that was a REALLY, REALLY bad miscalculation. But, explain to me again, WHY DO I NEED TO PAY FOR THAT MISTAKE?
September 24th, 2008 at 8:35 pmI don’t like the bailout one bit, but I also understand that now we are in this pickle the only feasible option is to do it. I’ve got a business whose 30yr amortization on a 10 yr balloon is due in June of 09. Without a fix the mortgage crisis will crumble, and it will crumble on EVERYONE. Right now the foreclosure problem is only affecting less than 5% of the entire mortgages held in the U.S. That means 95% of ALL AMERICANS are making timely payments. If we let these chips fall our ENTIRE lending system will go flat with a long term flat line. As a small/medium sized business this is unacceptable. Why should everyone be punished for the short comings of Congress? Democrats are responsible by and large. Don’t like the option but to let the giant fall is only assuring that those of us who are in the shadow will surely get squashed. With the bailout we at least have a good chance of making money instead of a sure chance of a long term recession.
September 25th, 2008 at 7:00 amI think Neal Boortz has a great idea. If you are one of those life’s losers who knew you couldn’t afford the house you bought and are now in foreclosure, then you should forfeit your right to vote. Dumb masses.
September 25th, 2008 at 9:46 am