In a recent developing story on CNN, Democratic nominee Barack Obama and GOP nominee John McCain have talked about the bailout at the White House. But, there is still one question that needs to be answered.
Yesterday evening, United States President George W. Bush gave a televised address from the White House to Congress. He had urged Congress to approve the
bailout proposal that is estimated at $700 billion. It is inevitable that the bailout will be a hot topic if not the one hot topic at tomorrow night’s debate between Democratic nominee Senator Barack Obama of Illinois and GOP nominee Senator John McCain of Arizona.
McCain wanted to postpone the debate to fly to Washington DC to discuss the crisis.
A few days ago, Texas Representative and former GOP hopeful Ron Paul had criticized the bailout plan. Paul explained that the hefty bailout for firms such as Fannie Mae and Freddie Mac will only make the current state of the economy even worse.
Today, the Presidential nominees Obama and McCain met with Bush at the White House to discuss the bailout plan.
In this developing story, there seems to be no agreement reached. Republican Senator Richard Shelby of Alabama had said that there will be no deal.
Connecticut Senator and former Democratic hopeful Chris Dodd blasted McCain. Dodd said that McCain did not show that he was putting his support behind any specific plans for the bailouts.
So far, it has been revealed that House Republicans are still not warm to the idea of the bailout. According to Democratic House Speaker Nancy Pelosi of California, Bush and the rest of the GOP need to get its members to support it.
In a nutshell, there has been no deal reached.
We can expect McCain and Obama to debate it out tomorrow night. This should be quite the interesting debate. But it will leave us wondering: Will there be a bailout deal reached? Also, when will the bailout deal be reached?
Sorry Folks, No Bailout Deal Has Been Achieved
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