Congress clears 2nd half of bailout
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Congress clears 2nd half of bailout

In a show of solidarity behind the President-elect, Congress voted for infusing the financial system with the remaining $350 billion just two days after Obama asked them to.

From the AP:

Congress laid the foundation for President-elect Barack Obama’s economic recovery plan on Thursday with remarkable speed, clearing the way for a new infusion of bailout cash for the financial industry while majority Democrats proposed spending increases and tax cuts totaling a whopping $825 billion.

Obama has said that he wants the rest of the bailout money to go to troubled mortgages and “main street” like he promised in his campaign.

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Jeremy
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