Bush: 'Our entire economy is in danger'

Summary

Yesterday President Bush put forth his plan to help stimulate the economy and drive it back up. The president started by saying "our entire economy is in danger." The stock market has dropped. The federal government will buy $700 billion to buy up mortgages. The government will then hang on to those mortgages and then sell them once they are at there wanted value. The money will then be flowed back into the treasury and the economy. Bush said that they hope most if not all the taxpayers money will be returned. The rescue plan is not aimed to help individual companies. Bush is a strong believer in free enterprise but with the given conditions government action is needed.

Opinion

I learned that 70% of Americans do not want this plan to happen. I am one of the 30% that do want this to happen. With the economy is such a downfall and spiralling i believe that government intervention is needed. It is proven that the economy will not recover fast enough on its own. So with the tax payers money the President plans to help the economy grow. I also believe that with this action taking place our economy will see a change maybe not right away but to prevent a recession that not only scar us but our children and our children's children. I believe in free enterprise also but like Bush said with the given situation government needs to take action.

http://www.msnbc.msn.com/id/26891341/