It sounds like congressional Democrats and Republicans have reached an agreement today on a possible bailout plan, that it is hoped will bolster our faltering economy. From the AP:
Warned that time was running short to bolster the distressed economy, congressional Republicans and Democrats reported agreement in principle Thursday on a bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.
So it sounds like the infighting and bickering has slowed long enough for them to come up with a plan to help. Now they just need to put it together and pass it:
Emerging from a two-hour negotiating session, Sen. Chris Dodd, D-Conn., said, “We are very confident that we can act expeditiously.”
“I now expect that we will indeed have a plan that can pass the House, pass the Senate (and) be signed by the president,” said Sen. Bob Bennett, R-Utah.
The bipartisan consensus on the general direction of the legislation was reported just hours before President Bush was to host presidential contenders Barack Obama and John McCain and congressional leaders at the White House for discussions on how to clear obstacles to the unpopular rescue plan.
Key lawmakers said at midday that few difficulties actually remained.
“There really isn’t much of a deadlock to break,” said Rep. Barney Frank, D-Mass, chairman of the House Financial Services Committee.
The question remains as to what exact form any legislation will take, and whether or not it will actually be helpful.
What do you think of the bailout – do you think it’s a good idea? Will it help our economy?