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Statement by the President on Bipartisan Agreement on Economic Rescue Legislation
The White House ^ | 9/28/08

Posted on 09/28/2008 4:38:00 PM PDT by hole_n_one

Today, a bipartisan group of Members of Congress, working with my Administration, reached agreement on economic rescue legislation that is urgently needed to address a crisis in our financial system that threatens the entire U.S. economy.

I appreciate the leadership shown by Members on both sides of the aisle, who came together to write a very good bill. This bill provides the necessary tools and funding to help protect our economy against a system-wide breakdown. The bill will help allow access to credit so American families can meet their daily needs and American businesses can make purchases, ship goods, and meet their payrolls. And this plan sends a strong signal to markets around the world that the United States is serious about restoring confidence and stability to our financial system. Without this rescue plan, the costs to the American economy could be disastrous.

Many Members of Congress contributed important ideas to improve the legislation my Administration proposed. I appreciate the negotiators considering those ideas and incorporating them in this agreement.

Members of Congress will vote on this legislation soon. This is a difficult vote, but with the improvements made to the bill, I am confident Congress will do what is best for our economy by approving this legislation promptly.


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: 110th; bailout; bush; statement; transcript; wallstreet
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To: word_warrior_bob

Think any money included in this package to buy the Republican caver’s? Just a thought.


21 posted on 09/28/2008 5:13:53 PM PDT by mulligan (A)
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To: word_warrior_bob
It was NOT A BIPARTISAN bill. It was crafted in the dark of night and delivered late to Republicans who are being pressured to vote for it without reading it.

That's the truth! Unfortunately, none of "our guys" with access to the bully pulpit, and the gravitas to go with it, are using their platform to tell the simple truth.

This is not the George W. Bush I knew...< /obamaspeak>

I'm throwing him under the bus, and reserving judgement on whether or not Senator McCain's going under there with him.

At this point, I'm thinking the best case scenario would be having our House Republicans vote NO on this thing and letting the Democrats hang themselves with it.

22 posted on 09/28/2008 5:18:04 PM PDT by lonevoice (John McCain was a Kinoki foot pad in the Reagan Revolution)
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To: word_warrior_bob

Them. Beohner says John is for it. It’s a sad day.


23 posted on 09/28/2008 5:27:26 PM PDT by VRWC For Truth (Palin is sugar on dog doo policy ... No mas Juan "Traitor Rat" McAmnesty foolishness)
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To: AndyJackson
This bill won't save anything. They'll be back at the trough after the election.
24 posted on 09/28/2008 5:29:46 PM PDT by VRWC For Truth (Palin is sugar on dog doo policy ... No mas Juan "Traitor Rat" McAmnesty foolishness)
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To: AndyJackson; All

Settle down.

Go on pile on Bush for the next four years too. Give it a break.

Nobody likes this bill - but you are not the only one affected by the bill - the whole country is. I don’t expect a president to sit by and do nothing when the financial markets are crashing and I do not expect McCain or Bush to jump through the continual hoops yelling at people, throwing the country in the ditch and jumping to your or the other FR latest directive to vent your rage.

This is a very serious problem and whether you think so or not - the job of the president of the U.S. IS to seek the best action - good or not so good - to keep the financial markets running. We cannot afford everyone on welfare, we cannot afford drastic financial turmoil if there is a way to pick a path to a solution.

It may not please you. It may not please the others - but the country has to be protected from financial ruin.

So quit your little tantrums and grow up and realize that a president is not only looking at your personal welfare but the welfare of all businesses, all markets, all families, all financial intersts the U.S. is involved in worldwide.

If a bank fails here - lo - that bank has international connections and dealings. What makes you think those international dealings are unworthy of being secure?

Now - since he may not be the super human that can drum up a solution on a minute’s notice, try and realize that he is not set on destroying all conservatives, all everything - he is a man dealing with the politicians you have put in office by your decisions to come up with a solution that just might work if we are blessed.

Get a grip and wake up.


25 posted on 09/28/2008 7:17:10 PM PDT by ClancyJ
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To: johnthebaptistmoore

All you can do is go run for office yourself and YOU go up there and change things.

You will undoubtedly find that you too will not get all you wish no matter how much you want it - but you get to fight for it.

All you can do is either run yourself - or get good people elected to represent you.

Then you might try and support them - a real rarity these days.

Wonder what happens when liberals get in the majority? Do you think they might be able to pressure the once conservatives? Do you think they might write legislation? Do you think that legislation will be full of legal traps to insure the liberals win elections and get their way?

But - oh - so many merely take action by not voting for the most conservative of the liberals - but sitting it out. Gee teach the GOP a lesson. One of these days - it will be hard to find a GOP to teach a lesson as more and more liberals populate the government due to the decisions and votes of those right here complaining on FR.

Then their few conservatives are over-run by the massive power of the liberals in government.

So - give up at your own risk. Trash your own side at your own risk. Wonder what would happen if all the wrath was taken out on the dems instead of our own unempowered people working for us.


26 posted on 09/28/2008 7:29:55 PM PDT by ClancyJ
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To: ClancyJ
Yes I will pile on, because Bush and the neocons got us here through incredible strategic blundering and misdirection. Mismanagement of Iraq cost both lots of money, lots of lives, and lots of political capital. Bush could probably have brought Fannie Freddie and debt somewhat under control, but he need to pander to everyone else in order to pay for the incredible bungling of the Iraq warby incompetent good ol boyz and girlz in state, defense and the NSC.

So, here we are, undercutting McCain and giving Frank, Pelosi and that crowd and enormous political victory.

You bet I am pi$$ed. I am pi$$ed at the political incompetence that got us here. There are only a couple of people on this forum who have been screaming louder, longer about the coming financial debacle than me. Of course it is a serious problem. It is beyond serious. It is a pending disaster. I said so ten years ago, five years ago, two years ago and continuously in the last 18 months. I am one of the chicken littles who screamed the sky is falling to the derisive chorus of chumps like you.

So go give your pompous condescending lecture to someone else.

PS there is no easy way out of the debt overhang of a 25 year credit binge. You can default or you can destroy the currency.

PPS Enjoy life under president 0. Hopefully civil liberties and the US constitution will survive the Imperious All Knowing One that Bush and Paulson just sold the country down the river to.

27 posted on 09/28/2008 7:32:57 PM PDT by AndyJackson
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To: ClancyJ

Get a grip and wake up.

Yup, get a grip is right because the worst is yet to come.


28 posted on 09/28/2008 7:35:19 PM PDT by Joan Kerrey
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To: ClancyJ
There is all the difference between giving up and being sold out by a Judas Iscariot. I don't say this lightly. I really don't. It really pains me. But Bush sold his soul to Paulson and Wall Street to get Iraq, and now he is begging for my last nickle to pay the devil his due.

NO!NO!NO!NO! There are no oaths and imprecations strong enough to describe what has happened here.

29 posted on 09/28/2008 7:36:14 PM PDT by AndyJackson
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To: VRWC For Truth
They'll be back at the trough after the election

$12T Federal Debt and $60T or whatever total national debt. No you don't just buy some bonds, grease some skids on the Street and expect everything is going to be ok.

30 posted on 09/28/2008 7:39:17 PM PDT by AndyJackson
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To: AndyJackson

You have the blame Bush syndrome. Blame the war, blame the president, blame Bush because the dems stopped his passage of an attempt to correct the Fannie Mae situation.

Funny you never seem to blame any liberals? You never seem to find any government official worth any good words.

Your real problem is the liberals infesting this government. How do they get elected? Maybe because you will never find a conservative that will ever support any candidate in the running - they are never - ever - ever up to their standards

All you ever do is trash each and every candidate, each and every elected official that does not happen to read your mind or jump when you forward an order for his immediate action.

Guess you love the liberals that are the ones causing this trouble because I have yet to see any on here complain or take action against any liberal. Instead you see - “we can’t do this because the liberals will say this. When will our candidates get some balls - they are worthless?”

The real trouble here for all the anxiety is the fact that the democrats are in control and winning the next election. In addition, they are changing our laws, our procedures and bringing about socialism.

It is not Bush - it is not McCain - it is not our House - it is the liberals and the traps and dirty tricks they pull.

You might consider working for our side with your vote instead of playing for the other side in tearing down the conservative portion of our government.


31 posted on 09/28/2008 7:49:09 PM PDT by ClancyJ
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To: ClancyJ
Funny you never seem to blame any liberals?....It is not Bush - it is not McCain - it is not our House - it is the liberals and the traps and dirty tricks they pull.

You are an idiot. We all know what liberals get up to and we all vote for conservatives. But we don't entirely control things. Liberals do what they do. We all know that to.

So, when you go off to fight a war with a cockamamie strategy but together by a bunch of boys and gals that are Harriet Miers wannabes and then have to pander to liberals to get the funds to bail out your bad strategy, and as a consequence you end up with 0 as president, you deserve every bad thing you can be called.

In chess, every time you move a piece to one square you abandon another square. If you get checkmated you have noone to blame but yourself.

32 posted on 09/28/2008 8:00:23 PM PDT by AndyJackson
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To: AndyJackson

Oh yes, hopefully civil liberties and the US constitution will survive an Obama.......

That is a smart comment. You trash the conservatives and put your confidence in an Obama to save your civil liberties and constitution.

Yep, that’s the way on FR - throw in the towel because none do your bidding and bring about your perfect government. So what do you do about it? Change it?

No, you sit out elections to teach the GOP a lesson. What happens? Gee - the liberal wins. Who woulda thunk it? And you get exactly what you voted for - more and more liberalism, more and more laws in place with traps that future conservative efforts can not correct due to the increased massive power of the liberal element in Washington.

What do you do? You get mad at your conservatives not throwing hissy fits and demanding wholesale destruction of the current government to change it back to your perfect government. When they cannot overcome the forces of liberalism, when they become corrupted by the forces of liberalism, when they give up because they can never get any support for their efforts - you never trash or take action against the real problem - the massive liberal machine that will do anything for power - you talk, you quit, you vote for the liberals.

So, you get exactly what you and others have worked for all these years of ranting - liberalism with none to do any fighting against it.

And then you say - “well, hopefully, our constitution will survive an Obama”.

Something does not make sense here.


33 posted on 09/28/2008 8:05:45 PM PDT by ClancyJ
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To: ClancyJ
You trash the conservatives and put your confidence in an Obama to save your civil liberties and constitution.

Go put words in someone else's mouth. I am not trashing conservatives. I am trashing a President who made a deal with Paulson that is going to get 0 elected, and I am pi$$ed. Republican leadership - hah! - needs to be very very afraid of me and folks like me because their traitorous tails are going to get singed first. Liberals are liberals. We know what they are. Right now, republican leadership are not conservatives. They are simply cowardly liars and panderers.

No I am not sitting anything out. I am screaming that some folks in high places better get their act together. NOW!

34 posted on 09/28/2008 8:11:42 PM PDT by AndyJackson
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To: ClancyJ
well, hopefully, our constitution will survive an Obama

I pray to god it survives 0. I wish we didn't have to put it to that test, but unless some folks do things right it will be put to that test.

35 posted on 09/28/2008 8:14:18 PM PDT by AndyJackson
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