The Monday Muse: Economic Bailout

There are so many serious issues being discussed right now in our country. It wasn’t too long ago that we were holding our breath as we waited for another hurricane to strike the coast of Texas and Louisiana. Many people across the country felt the effects of Hurricane Ike. My home, Nashville, suffered a gas shortage that had people lined up for hours screaming at each other just to get a few drops. If I didn’t know better, I would’ve thought that the end of the world was at hand. It was a strange week.

While Ike put a hold on some people’s daily activities, the presidential campaigns continued to press on. In the midst of an election year, time is precious. Each candidate has turned up the heat as November rapidly approaches. Americans are faced with a difficult decision of choosing between two candidates that claim to be agents of change. Yet, the differences between Obama and McCain are obvious. It is an important election for many reasons.

However, the most pertinent issue facing Americans recently has been the economic crisis. Foreclosures have approached record highs. People are losing their homes. Financial institutions are closing their doors or being bought out. The stock market has been in a free fall. People have been looking for answers. And after much deliberation, an answer has been given. The President, House, and Senate have all approved a $700 billion dollar bailout to buy bad assets from financial firms. Many economists have stated that this bailout was necessary, especially for Wall Street. But what about Main Street? How does this bailout benefit the average American?

So here’s my question to you…

Do you support or oppose this economic bailout bill? Why or why not?

I want to know what you think as it relates to both your own situation and the state of our country’s overall economy.