Read the Bills Act Coalition

Tuesday, September 30, 2008

For Congress it's time to start acting like grownups

From the AP:

Congressional leaders scrambled Tuesday to find enough changes to sell the multibillion-dollar financial rescue to their rank-and-file, with long-distance prodding from John McCain and Barack Obama on the presidential campaign trail.
Both McCain and Obama announced their backing for a plan that some House Republicans had pushed earlier: raising the federal deposit insurance limit from $100,000 to $250,000 in a bid to reassure nervous Americans and to shore up the economy. President Bush sought to avoid being marginalized, making another statement at the White House. "Congress must act," he demanded. ...Republican House aides said the FDIC proposal might be attractive to some conservatives who want to help small business owners and avert runs on banks by customers fearful of losing their savings. The leadership needs to find sufficient changes to attract about a dozen more votes, the number needed to avoid the kind of stunning defeat that supporters of a bailout suffered Monday. ...Obama's embrace of the idea might attract some Democratic votes. ...Senate Republican Leader Mitch McConnell of Kentucky said it was time for all lawmakers to "act like grownups, if you will, and get this done for all of the people." ..Bush warned that failing to pass such a plan would bring severe consequences to the U.S. economy. McCain and Obama echoed his sentiments. Both the Republican and Democratic nominees spoke with Bush on Tuesday, and both have let colleagues know they embrace the higher FDIC insurance idea.

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1 comment:

Anonymous said...

I think its time that someone/anyone find that right white horse and ride it on in and save the day.

Notice how no one is giving Ron Paul a mic lately?