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THE WEEKLY
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Financial bailout worked already
November 20, 2008 | Issue 5-25
Pictured: Rich executives
celebrate the bailout's complete success at the Nasdaq market
WASHINGTON – The White House and Department of the Treasury announced jointly
today that the financial bailout plan meant to rejuvenate the nation’s economy
through $700 billion in lending to financial institution has worked, and
Americans may now go about their lives without fear of a total financial
meltdown.
“We urge all citizens to purchase in excess this holiday season, free from worry
over news of a 16-year jobless high, which is only a minor correction in the
economy,” said Treasury Secretary Henry Paulson, who added that small business
owners should not worry about difficulty in securing loans, as it will take a
few weeks for the wholly successful bailout to be fully felt at that level.
With more Americans filing for unemployment benefits than at any point in
history and home mortgage foreclosures at an all-time high, the news that the
American economy is back in robust form is welcome news.
“I’m just so glad all of this is over with,” said Tammy Holthaus, who lost her
job as a factory line worker three months ago. “I didn’t have any way to pay the
mortgage this month, but it sounds like everything should be fine now.”
Holthaus is not alone in her relief, as many unemployed Americans flocked to
stores on news the bailout succeeded.
Some remain unjustly skeptical over the announcement the bailout has succeeded
completely, give under half of the bailout plan’s $700 billion has been spent
and Congress is currently considering issuing a bailout to the US auto industry.
“I wouldn’t worry about all that,” said President Bush of the bailout
procedures. “Those are all just a bunch of numbers I let all those pencil
pushers deal with. The American citizen doesn’t need to worry about all those …
figures, but just get out there and go about their Christmas shopping, knowing
that we’re doing everything possible to rid the world of terrorism.”
Despite the president’s upbeat tone, killjoy President-Elect Barack Obama
addressed the nation with a less enthusiastic manner, saying the road to
economic recovery would be long, and there remained much work to lift the
economy to its previous state.
“I don’t know why that Obama has to say those things,” said Holthaus, who
preferred President Bush’s optimistic message. “Why can’t he just tell me
everything is fine like all the others?”
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