The Financial Crisis Bailout Politics

The Financial Crisis Bailout Politics - Shu-Ya Peng Student...

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Shu-Ya Peng Student Assigned Article Summary: The Financial Crisis: Bailout Politics Article Summary: No matter which candidate wins the White House, he will face dire economic situation and huge budget deficit. For this fiscal year, the deficit hit 454.8 billion. On the other hand, because the economy is not doing well, the tax revenue has gone down. The new president also needs to worry about what to do with Fannie Mae and Freddie Mae. Analysis: Compare what Clinton has left to Bush, the new President seem to have a much tougher job. Many people miss the long period of economic expansion and budget surplus under Clinton. On the contrary, the new President will face the likely worst economic downturn since Great Depression and nearly 750 billion budget deficit. I think economists are generally right about two things. First, the resources we have largely work like a pie. We do have constrains in using our resources. I don’t believe in blaming Bush too much but he did wage the very expensive war on terror. In 2008, the federal government would
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The Financial Crisis Bailout Politics - Shu-Ya Peng Student...

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