Sunday, September 28, 2008
Current Event #1
This week, many important financial institutions in America face collapse. The government is proposing a bailout plan, in which they will spend $700 billion to save these companies. President Bush says that the effects of these companies failing would be far worse than the $700 billion spent now. If congress does not pass the bill enacting this plan, America could very well slump into another depression. America is not the only country suffering, Britain is facing similar hardships with one of their biggest institutions, HBOS. I agree with Bush that this plan must be enacted to save the American economy, even if it is not the government's place to meddle. The effects that the collapse could have would be devastating, and I hope that Congress has the sense to see that.
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