Obama and McCain have attended talks at The White House with George Bush to agree with Bush’s attempt to bail out the economy by using billions of dollars of tax payers money.
Both Obama and McCain are reticent about the move to use taxpayers money to save Wall Street and quite rightly so. Bush knows that he won’t be around in the next 3 months and will be leaving the next President with a multi-billion dollar debt.
Both Obama and McCain are reluctatnt to agree a deal, but Bush has warned of panic and disaster if the bail-out is stopped and said that ‘our economy is in danger’ and that America ‘could slip into a financial panic’ that could lead to a ‘long and painful recession.’
The decision is easy for Bush, he uses tax payers money to save his wall street friends, while the two potential new presidents have to deal with the mess that he created after an 8 year term.
Obama has made his position clear, but his hands seem to be tied as possibly the next President of America, he does not want to see the economy in a recession, “It’s outrageous that we find ourselves in a position where taxpayers bear the burden and the risk for greed and irresponsibility on Wall Street and in Washington, but we also know that a failure to act would have grave consequences for the jobs, and savings, and retirement of the American people.”