Doom and gloom?

After painting a "doom and gloom" scenario during his speech last night about the economy, it appeared that Democrats and Republicans reached a deal in principle on a bailout package. However, later in the day House Republicans failed to support the President's $700 billion bailout leaving the deal on hold. AP reports that "a Republican revolt stalled urgent efforts to lash together a national economic rescue plan Thursday, a chaotic turnaround on a day that had seemed headed for a success that President Bush, both political parties and their presidential candidates could celebrate at an extraordinary White House meeting. Weary congressional negotiators worked into the night, joined by Treasury Secretary Henry Paulson in an effort to revive or rework the $700 billion proposal that President Bush said must be quickly approved by Congress to stave off potentially "a long and deep recession."' In other words, House Republicans are opposed to social engineering on the economy. President Bush and lawmakers will meet again late Friday morning to try to work out their differences...Washington Mutual, the country's largest Savings and Loan was taken over by the FDIC and will have its assets sold to JP Morgan Chase. It's the largest bank failure in US history...Friday's first presidential debate at Ole' Miss is still up in the air though Nader, Barr, and McKinney agreed to step in for McCain...It's not clear how successful McCain's strategy has been to suspend his campaign to return to Washington to work on a solution. While Gallup's daily tracking poll has the race even at 46%, the circus atmosphere in Washington have Republicans calling McCain's actions a "political stunt"...House member Barney Frank (D, MA) said back in 2005 that Fannie Mae and Freddie Mac were financially sound, solvent, and that the rules need not be re-written to stop giving loans to folks who could not afford them. Brilliant!

There are 40 days until the presidential election. There are 116 days left in the Bush presidency. And, it's been 2,768 days since there's been a terrorist attack on US soil. Good day and God bless!