The Bush Cartel and his bailout and rescue plan was written by those that don't live in the real world. The consumer shock has been devasting to consumers, the real power on U.S. economics. Consumers are now willing to give up their credit cards and indebted lifestyles. Consumers are learning just how much they have been losing to the financial industry in fees and service charges and interest that has been the backbone of profit. Consumers can't be forced to spend what they don't have anymore and even with cheaper interest, the fees and service charges are substantial costs to consumers. The debt based economy is all but over and big business and corporations better start getting out of debt if they wish to survive. How the consumers have been treated in the past and getting ripped off by the financial market has finally hit them where it hurts, their wallet and financial security. The real blow will be when investment retirement accounts are not the cash cow anymore from the american workers. Reform must come in how consumers are treated with interest, fees, and service charges. Consumers are learning they have limited money and preparing for harder times.

It's not that Obama hasn't been specific enough in his governing plans. To the contrary, he has been very specific about his tax policy, health-care and energy proposals. It's that voters are paying attention and appear not to like what Candidate Obama is saying. Obama has proposed a massive tax increase on investors, business owners, and the wealthy. At a time when the American people rate the economy as the central issue of the campaign, a tax hike doesn't make a lot of political sense. Voters know that a tax hike won't help the economy. Obama's tax plans would directly or indirectly harm U.S. investors by raising the capital gains and dividend taxes. More than half of U.S. households are equity owners, so Mr. Obama's proposal risks alienating half the population. Obama claims to offer a tax cut to moderate-income families, but a significant portion of Mr. Obama's tax plan is a welfare giveaway costing more than $648 billion over 10 years, according to the Tax Policy Center. How so? He would authorize a hodgepodge of refundable tax credits covering everything from education, mortgage payments, child care and other items for people who do not pay income taxes now.

The economy will get worse and here’s why, Short Sales.

Now people are NOT wanting to pay the huge mortgage they got themselves into so they hire a Realtor and short sell their home for nearly 50% of the amount owed. They short sell their home to their friend; hire a credit repair guy to raise their credit score and when the bank is out of the picture they buy their home back from their friend for 50% of the homes value. They never move out of their home and a “For Sale” sign never goes in the yard. The bank takes the hit. The banks allow this.

This is taking place on homes from $150,000 to over a million dollars. I have an acquaintance who is doing this on his 3 million dollar home. He is going to get a million off of the home by doing this.

SOON we will be needing another bail-out because banks are allowing this to happen. Short Sales need to be disallowed. Only a foreclosure should be allowed.

This is nothing more than people's greed and lack of responsibility.

Obama's economic proposals may not help in the future IF he is elected. However, I think the red-haired ELEPHANT boys are more responsible for the current situation we are suffering.

As a poor man, who doesn't completely own the house I am in, can I vote for another ELEPHANT type who owns 7 homes, who likely can't understand or relate to my struggles.

It is time for me to do my part for change; I think I have decided who I will vote for this time around.

I am more afraid to spend now than before the bail out bill passed. Since our elected officials didn't listen and passed the bill I am very afraid of what the future holds. I am concentrating on becoming more self reliant. I'm investing in more food storage. I'm learning more about growing my own food and re-landscaping my backyard to make room for more garden space. If the bill had not passed I would have had some confidence that our leaders where doing the right thing and be more willing to spend more. Now I see they are still out of touch and leading us to a disaster down the road. The economic bail out has had an opposite effect on me than what they intended and I wonder how many other Americans feel the same way. I no longer have any confidence. Thanks Bennet and Hatch.

A 1995 strengthening of the Community Reinvestment Act required banks to find ways to provide mortgages to their poorer communities. It also let community activists intervene at yearly bank reviews, shaking the banks down for large pots of money. Banks that got poor reviews were punished; some saw their merger plans frustrated; others faced direct legal challenges by the Justice Department. Flexible lending programs expanded even though they had higher default rates than loans with traditional standards. On the Web, you can still find CRA loans available via ACORN with 100 percent financing , no credit scores, undocumented income, even if you don't report it on your tax returns. Credit counseling is required, of course. Ironically, an enthusiastic Fannie Mae Foundation report singled out one paragon of nondiscriminatory lending, which worked with community activists and followed "the most flexible underwriting criteria permitted. That lender's $1 billion commitment to low-income loans in 1992 had grown to $80 billion by 1999 and $600 billion by early 2003. The lender they were speaking of was Countrywide, which specialized in subprime lending and had a working relationship with ACORN.

Learn the true fact's Bob G.

Obamas tax plan will not touch 90% of small business's or more.

Obamas tax plan will put more money into the middle class persons hands, and that is where the economy will recieve the shot in the arm.

When the working class can have some spare dough to toss around, America always benifits.

Its the only thing that has ever worked.

You better start paying attention. It was indeed President Bush who suggested we do this, that is true. But the President has no power in the Senate and the House. The senate first passed the bill. Hey Bob, who hold the majority in the Senate? then it went to the house. Hey Bob, Who hold the majority in the House? Blame the President, but you better also lump your lousy Democrats into the mix somewhere.

"It's that voters are paying attention and appear not to like what Candidate Obama is saying. Obama has proposed a massive tax increase on investors, business owners, and the wealthy."

What Obama will do (and he will be elected) is reissue the taxes on those entities who have unfairly profited by their taxes being rolled back.

This country NEEDS a strong middle class: that is our economic engine. Enriching the rich at the expense of the middle class erodes our ability to be strong, be consumers and contribute.

And in fact, that is exactly what has happened in the last eight years.

You yank from the middle class over and over and over and pretty soon they stop spending. Bubble over.

We can't get out of the current policies fast enough. I just wish more people in Utah understood this. Fortunately, the rest of the country seems to.

Great. Now, not only am I worried about my: job, 401k, finances, never being able to retire, etc.etc.etc.

Now I can worry that this recession is my fault because I'm not spending enough money!

You made my Monday...

It's great news that consumers are spending less. Yes, I understand that this means that businesses will suffer and there will be jobs lost. Yes, I know that the economy will shrink and all of us will feel the pinch. BUT if we save more and spend less, pay off our debts rather than increasing them, then our economy, while smaller, will be on a stronger foundation.

Now how can we get our government to start spending less? A $700 billion spending spree is not what I had in mind.

Keep up the hard work and quality at your job. With the softer dollar our exports should go up. With us spending less our imports should go down, and maybe we'll close the import/export gap.

Remember your neighbors when they start losing their jobs. Be frugal with your spending, but generous in helping others. We'll all need to work together. Let's show our government that we can take care of ourselves.

CRA did not require banks to make poor loans. It prevented redlining. That is very different.

No one required banks to lend to people with poor credit. That strategy was manufactured risk (Ironically, Henry Paulsen, Sect of the Treasury, was one of the prominent architects of high-risk loans).

You are doing everyone a disservice by spouting off scare tactics dribbled down from the right wing operatives, instead of via your own research.

When there were serious questions raised in the House by republicans about the health of Fannie Mae and Freddie Mac several years ago, the democrats assured the committee that both were sound. It wasn't two years later that several of the head honchos were forced to resign (with HUGE severance packages) over serious irregularities. Some of those very people are now advising the Obama campaign. Of course, our wonderful Secretary of the Treasury was also involved in the very banks that are now crying for help. I'm even more convinced that BOTH parties, at a very high level, are working together toward the same goals. Do you think this bill was crafted overnight?

We must put aside partisan politics and stop blaming the other party and LOOK AT THE RECORD! This is a bi-partisan mess, You can see that by the votes on the bailout. Both parties caused it, neither party will fix it. We are in trouble in capital letters, squared!

Good for the consumer if he is wise enough to stop spending and start saving. Maybe the government will do that, but don't count on it--voters vote for the person who promises them the most. Greed!