Quo Vadis, Catholic vote?
Jeffery T. Kuhner, Washington Times
The Catholic bloc is the key swing vote in this year's election that will decide the next president of the United States - and shape our destiny in this watershed moment in history. Catholics must support Sen. John McCain.
Both campaigns are courting Catholics vigorously. Catholics constitute America's largest single religious denomination. The church has 47 million adherents - nearly one-quarter of all registered voters. In pivotal battleground states, such as Pennsylvania, Ohio, Michigan and Missouri, they form almost a third of the electorate. Moreover, 41 percent of Catholics are independents.
What if the bailout plan doesn't work?
Under the current plan, the U.S. government will buy up to $700 billion in assets from private holders on Wall Street. That would help banks stabilize their balance sheets, and in theory provide an incentive for banks to begin extending credit among themselves again — a critical component of a functional financial system.
Here’s the good news: If everything goes smoothly, it is even possible that taxpayers will profit from the deal in the long run, as the underlying assets accumulate value over the coming years and the government is able to ultimately sell them back into the market at higher prices than it’s paying now. Of course, it’s also possible that the values will never come back, in which case taxpayers would be on the hook.
Obama: Bailout likely to delay spending programs
By DOUGLASS K. DANIEL, Associated Press Writer
WASHINGTON - Democratic presidential candidate Barack Obama says he probably would have to delay the spending programs he has called for during his campaign in light of the massive government bailout being proposed for the nation's financial industry.
Does that change how you will vote? If you are voting to line your own pockets, then you have been warned that it won't happen. Campaign promises don't mean a thing after the election is over.