Sunday, October 5, 2008

The Battle for the Bailout

In order for Congress to have passed the bailout bill, President Bush had to be happy with it.  He ultimately has the final say in the matter, and, if Congress had not listened to Bush's requests, he could easily veto the bill and get the process started all over again.  President Bush knew the dire situation of the economy, and he knew that somehow this bill had to be passed.  Not only is it the President's job to pass legislation, but he also keeps the American public informed of the status of the bill.  It is his job to try to keep the American public's support of this bill and to encourage the public to get Congress to pass the bill.  So, basically, President Bush has the final say in the matter- he decides whether the bill will become law or not. He also helped to keep the American public informed and tried to keep the public optimistic about the bill's probable effect on the economy.  Thankfully, President Bush did agree with the bill that both houses of Congress finally agreed on, and the bill was signed into law on Friday afternoon.

SOURCE: http://money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm?postversion=2008100309
  

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