Obama encourages Americans to support Bush’s rescue plan

2008-10-01 04:28:32 (GMT) (Caymanmama.com - Government World News News)

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Barack Obama waving to crowd

Bethesda, Maryland (CaymanMama.com) — Democratic presidential candidate and advocate for change to the current state of affairs Barack Obama is encouraging all Americans to stand behind attempts to recover President Bush’s $700 billion rescue plan for the financial sector which Congress shot down.

In a recent report by the Associated Press, Obama supports the bailout plan and asked the crowd at the University of Nevada at Reno on Tuesday to support the plan and that “if Wall Street fails, ordinary people will be hurt, too.”

The charismatic Illinois Senator laid out a clear warning about the direction the nation and noted that if Congress doesn’t take quick and necessary action, the citizens of the United States will soon find it extremely hard to get a mortgage for a new home, a college loan or a loan to buy a car.

“Obama is proposing that the limit on federal deposit insurance for bank accounts be raised from $100,000 to $250,000. Increasing that limit, he says, would help small-business owners and reassure nervous Americans as well as help shore up the economy.”

Obama added that U.S. Congress should set aside their political campaigns and act on the legislation quickly as they are Americans who will be effected by the plan as well.

“To the Democrats and Republicans who opposed this plan yesterday, I say: Step up to the plate and do what’s right for this country,” he said. “And to all Americans, I say this: If I am president of the United States, this rescue plan will not be the end of what we do to strengthen this economy. It will only be the beginning.”



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