Plans for economic bailout are difficult to sell
The New York Times and CNN.com have reported on the progress of a "bailout plan" for our economy. The New York Times said Treasury Secretary Henry M. Paulson Jr. proposed a plan to save our economy to Congress and it was rejected. It required 700 billion dollars and Paulson thinks putting this bill into action needs to be done urgently without provisions.
CNN said Federal Reserve Chairman Ben Bernake was behind Paulson in his plan. They also show an interview with Sen. Christopher Dodd on his views on the plan. He says he is angry about the current economic situation and agrees something needs to be done or it will get worse but he does have a lot of reservations.
The New York Times focused on Paulson's point of view. He said he was angry about the situation as well. Congress members say this plan will be costly and reckless and taxpayers should not have to "pick up the bill".